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Possible Bullish Inside Day Candle Pattern Detected for Denny'S Corp (NASDAQ:DENN)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Denny'S Corp (NASDAQ:DENN) based on the price action in the company's shares. Yesterday's price range of $14.33 and $14.64 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 Denny'S Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Denny'S Corp has overhead space with shares priced $14.50, or 23.0% below the average consensus analyst price target of $18.83. The stock should find initial resistance at its 200-day moving average (MA) of $15.19 and further resistance at its 50-day MA of $15.27.

In the past 52 weeks, Denny'S Corp share prices have been bracketed by a low of $10.02 and a high of $17.75 and closed yesterday at $14.50, 45% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.7%.

Denny's Corp. is a full-service family restaurant chain, operating directly and through franchisees. The Company's restaurants operate under the Denny's name in the United States, Canada, Costa Rica, Guam, Mexico, New Zealand, and Puerto Rico.

SmarTrend recommended that its subscribers protect gains by selling shares of Denny'S Corp on May 21st, 2018 by issuing a Downtrend alert when the shares were trading at $14.91. Since that call, shares of Denny'S Corp have fallen 4.1%. 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 denny's corp

Ticker(s): DENN