• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Dick's Sporting Goods (NYSE:DKS)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Dick's Sporting Goods (NYSE:DKS) based on the price action in the company's shares. Today's price range of $38.62 and $39.06 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 Dick's Sporting Goods may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 63.6% for shares of Dick's Sporting Goods based on a current price of $38.97 and an average consensus analyst price target of $63.74. The stock should find initial resistance at its 200-day moving average (MA) of $44.13 and further resistance at its 50-day MA of $45.74.

Dick's Sporting Goods, Inc. is a sporting goods retailer that operates stores primarily in the eastern and central United States. The Company's stores offer a broad selection of brand name sporting goods equipment, apparel, and footwear.

Over the past year, Dick's Sporting Goods has traded in a range of $33.42 to $62.88 and is now at $38.97, 17% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Dick's Sporting Goods on May 12th, 2017 by issuing a Downtrend alert when the shares were trading at $47.00. Since that call, shares of Dick's Sporting Goods have fallen 17.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle dick's sporting goods

Ticker(s): DKS