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Possible Bullish Inside Day Candle Pattern Detected for Dunkin' Brands G (NASDAQ:DNKN)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Dunkin' Brands G (NASDAQ:DNKN) based on the price action in the company's shares. Yesterday's price range of $60.78 and $62.03 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 Dunkin' Brands G may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Dunkin' Brands Group Inc. franchises quick service restaurants (""QSRs"") serving hot and cold coffee and baked goods, as well as ice cream. The Company operates primarily in the breakfast part of the day within the QSR segment of the restaurant industry. Dunkin' Brands Group operates worldwide.

Over the past year, Dunkin' Brands G has traded in a range of $41.29 to $68.45 and closed yesterday at $61.31, 48% above that low. The 200-day and 50-day moving averages have moved 0.39% lower and 0.38% higher over the past week, respectively.

Dunkin' Brands G (NASDAQ:DNKN) defies analysts with a current price ($61.31) 7.3% above its average consensus price target of $56.84. The stock should discover initial support at its 50-day moving average (MA) of $47.12 and subsequent support at its 200-day MA of $45.20.

SmarTrend is monitoring the recent change of momentum in Dunkin' Brands G. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Dunkin' Brands G in search of a potential trend change.

Keywords: bullish am inside day candle dunkin' brands g

Ticker(s): DNKN