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Possible Bullish Inside Day Candle Pattern Detected for G-III Apparel (NASDAQ:GIII)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in G-III Apparel (NASDAQ:GIII) based on the price action in the company's shares. Today's price range of $43.47 and $44.18 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 G-III Apparel may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 50.9% exists for G-III Apparel, based on a current level of $44.04 and analysts' average consensus price target of $66.44. The stock should run into initial resistance at its 50-day moving average (MA) of $48.90 and subsequent resistance at its 200-day MA of $54.19.

G-III Apparel Group, Ltd. manufactures and distributes leather and non-leather outerwear apparel. The Company has fashion licenses with Kenneth Cole, Jones Apparel Group, Cole Haan, and Timberland. GIII own labels GIII, Siena Studio, Colebrook & Co, JLC, JL Colebrook, and ColeB. G-III also has licensing agreements with the NFL, NHL, NBA, and MLB.

In the past 52 weeks, G-III Apparel share prices have been bracketed by a low of $36.14 and a high of $73.93 and are now at $44.04, 22% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has slid 0.9%.

SmarTrend is tracking the current trend status for G-III Apparel and will alert subscribers who have GIII in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle g-iii apparel

Ticker(s): GIII