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Possible Bullish Inside Day Candle Pattern Detected for Dr Pepper Snapple (NYSE:DPS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Dr Pepper Snapple (NYSE:DPS) based on the price action in the company's shares. Yesterday's price range of $89.94 and $91.35 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 Dr Pepper Snapple may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Dr Pepper Snapple Group, Inc. is an integrated brand owner, bottler and distributor of non-alcoholic beverages in the United States, Canada and Mexico. The Company offers flavored carbonated and non-carbonated soft drinks, teas, juices, juice drinks and mixers.

Over the past year, Dr Pepper Snapple has traded in a range of $72.00 to $98.80 and closed yesterday at $91.26, 27% above that low. The 200-day and 50-day moving averages have moved 0.31% higher and 0.07% higher over the past week, respectively.

Potential upside of 0.4% exists for Dr Pepper Snapple, based on a current level of $91.26 and analysts' average consensus price target of $91.67. The stock should find initial support at its 50-day moving average (MA) of $90.44 and further support at its 200-day MA of $87.14.

SmarTrend recommended that its subscribers protect gains by selling shares of Dr Pepper Snapple on August 23rd, 2016 by issuing a Downtrend alert when the shares were trading at $94.01. Since that call, shares of Dr Pepper Snapple have fallen 4.4%. 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 Dr Pepper Snapple

Ticker(s): DPS