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Possible Bullish Inside Day Candle Pattern Detected for Guess? (NYSE:GES)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Guess? (NYSE:GES) based on the price action in the company's shares. Today's price range of $17.12 and $17.30 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 Guess? may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Guess?, Inc. designs, markets, distributes, and licenses a collection of casual apparel, accessories, and related consumer products. The Company's apparel for men, women, and girls is marketed under trademarks such as Guess?, Guess U.S.A., and Triangle Design. Guess? provides full collections of denim and cotton clothing and has granted licenses to manufacture complementary products.

Potential upside of 24.5% exists for Guess?, based on a current level of $17.12 and analysts' average consensus price target of $21.31. The stock should find initial resistance at its 50-day moving average (MA) of $19.19 and further resistance at its 200-day MA of $20.12.

In the past 52 weeks, shares of Guess? have traded between a low of $13.78 and a high of $23.45 and are now at $17.12, which is 24% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has slid 0.5%.

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

Keywords: bullish inside day candle guess?

Ticker(s): GES