Possible Bullish Inside Day Candle Pattern Detected for DineEquity (NYSE:DIN)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in DineEquity (NYSE:DIN) based on the price action in the company's shares. Yesterday's price range of $75.60 and $76.25 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 DineEquity may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Over the past year, DineEquity has traded in a range of $75.36 to $106.09 and closed yesterday at $75.93, 1% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.2%.
There is potential upside of 44.9% for shares of DineEquity based on a current price of $75.93 and an average consensus analyst price target of $110.00. The stock should run into initial resistance at its 200-day moving average (MA) of $89.71 and subsequent resistance at its 50-day MA of $91.63.
DineEquity, Inc. and its subsidiaries develop, operate, and franchise family restaurants. The Company's restaurants feature pancakes, omelets, and other breakfast specialties, as well as lunch and dinner items. The restaurants are primarily operated by franchisees in the United States, Canada, and Japan.
SmarTrend recommended that its subscribers protect gains by selling shares of DineEquity on May 4th, 2016 by issuing a Downtrend alert when the shares were trading at $85.93. Since that call, shares of DineEquity have fallen 11.6%. 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 dineequity