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Possible Bullish Inside Day Candle Pattern Detected for Dean Foods Co (NYSE:DF)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Dean Foods Co (NYSE:DF) based on the price action in the company's shares. Yesterday's price range of $11.89 and $12.10 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 Dean Foods Co may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 64.0% exists for Dean Foods Co, based on a current level of $11.99 and analysts' average consensus price target of $19.67. The stock should find initial resistance at its 200-day moving average (MA) of $17.97 and further resistance at its 50-day MA of $18.03.

Dean Foods Company is a food and beverage company. The Company provides products such as milk and milk based beverages, ice cream, whipping cream, sour cream, cottage cheese, yogurt, dips, and soy milk. Dean Foods also supplies pickles, juice, juice drinks, and water in the State of Texas.

Over the past year, Dean Foods Co has traded in a range of $11.19 to $22.31 and closed yesterday at $11.99, 7% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Dean Foods Co on May 16th, 2017 by issuing a Downtrend alert when the shares were trading at $18.40. Since that call, shares of Dean Foods Co have fallen 35.5%. 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 dean foods co

Ticker(s): DF