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Possible Bullish Inside Day Candle Pattern Detected for Darden Restaurants (NYSE:DRI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Darden Restaurants (NYSE:DRI) based on the price action in the company's shares. Today's price range of $62.27 and $62.82 is within yesterday'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 Darden Restaurants may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Darden Restaurants, Inc. operates casual dining restaurants in North America. The Company owns and operates seafood and Italian restaurants.

Darden Restaurants share prices have moved between a 52-week high of $75.60 and a 52-week low of $53.38 and are now trading 18% above that low price at $62.78 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 0.3%.

Darden Restaurants has overhead space with shares priced $62.78, or 2.6% below the average consensus analyst price target of $64.44. The stock should run into initial resistance at its 200-day moving average (MA) of $64.75 and subsequent resistance at its 50-day MA of $65.05.

SmarTrend is tracking the current trend status for Darden Restaurants and will alert subscribers who have DRI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle Darden Restaurants

Ticker(s): DRI