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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. Today's price range of $90.19 and $91.00 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 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 share prices have moved between a 52-week high of $98.80 and a 52-week low of $72.00 and are now trading 26% above that low price at $90.49 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.3%.

Dr Pepper Snapple has overhead space with shares priced $90.49, or 1.3% below the average consensus analyst price target of $91.67. Dr Pepper Snapple shares have support at the 50-day moving average (MA) of $90.44 and additional support at the 200-day MA of $87.14.

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.

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 inside day candle Dr Pepper Snapple

Ticker(s): DPS