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Possible Bullish Inside Day Candle Pattern Detected for Vitamin Shoppe (NYSE:VSI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Vitamin Shoppe (NYSE:VSI) based on the price action in the company's shares. Yesterday's price range of $7.05 and $7.18 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 Vitamin Shoppe may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Vitamin Shoppe, Inc., sells vitamins, minerals, herbs, supplements, sports nutrition and health and wellness products. The Company sells their products through their retail shops, Internet and catalog operations.

Vitamin Shoppe (NYSE:VSI) is currently priced 48.5% above its average consensus analyst price target of $3.69. Vitamin Shoppe shares should encounter resistance at the 200-day moving average (MA) of $7.89 and support at the 50-day MA of $6.11.

Over the past year, Vitamin Shoppe has traded in a range of $3.80 to $13.95 and closed yesterday at $7.16, 88% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.2%.

SmarTrend recommended that subscribers consider buying shares of Vitamin Shoppe on February 26th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.63. Since that recommendation, shares of Vitamin Shoppe have risen 6.3%. We continue to monitor VSI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle Vitamin Shoppe

Ticker(s): VSI