• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Darden Restauran (NYSE:DRI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Darden Restauran (NYSE:DRI) based on the price action in the company's shares. Yesterday's price range of $72.49 and $74.58 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. Owners of Darden Restauran may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Darden Restaurants, Inc. owns and operates full service restaurants. The Company operates a variety of seafood and Italian restaurants under a multitude of brand names. Darden Restaurants owns restaurants through North America.

There is potential upside of 36.7% for shares of Darden Restauran based on a current price of $73.93 and an average consensus analyst price target of $101.10. The stock should find resistance at its 200-day moving average (MA) of $103.40, as well as support at its 50-day MA of $64.01.

In the past 52 weeks, shares of Darden Restauran have traded between a low of $26.15 and a high of $128.41 and closed yesterday at $73.93, which is 183% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.6% while the 200-day MA has slid 0.7%.

SmarTrend is tracking the current trend status for Darden Restauran and will alert subscribers who have DRI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle darden restauran

Ticker(s): DRI