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Possible Bullish Inside Day Candle Pattern Detected for Children'S Place (NASDAQ:PLCE)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Children'S Place (NASDAQ:PLCE) based on the price action in the company's shares. Yesterday's price range of $99.82 and $101.98 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Children'S Place may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Children'S Place share prices have moved between a 52-week high of $161.65 and a 52-week low of $98.58 and closed yesterday at 2% above that low price at $100.94 per share. The 200-day and 50-day moving averages have moved 0.5% lower and 1.28% lower over the past week, respectively.

The Children's Place, Inc. retails value-priced apparel and accessories for newborn to 12 year old children. The Company designs, contracts to manufacture, and sells its products under The Children's Place brand name. The Children's Place operates stores primarily located in regional shopping malls in the eastern half of the United States.

Children'S Place (NASDAQ:PLCE) has potential upside of 53.3% based on a current price of $100.94 and analysts' consensus price target of $154.71. The stock should find initial resistance at its 200-day moving average (MA) of $130.45 and further resistance at its 50-day MA of $132.48.

SmarTrend recommended that its subscribers protect gains by selling shares of Children'S Place on November 15th, 2018 by issuing a Downtrend alert when the shares were trading at $135.75. Since that call, shares of Children'S Place have fallen 26.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle children's place

Ticker(s): PLCE