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Possible Bearish Inside Day Candle Pattern Detected for Destination Xl G (NASDAQ:DXLG)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Destination Xl G (NASDAQ:DXLG) based on the price action in the company's shares. Yesterday's price range of $0.33 and $0.40 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 Destination Xl G may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Destination XL Group, Inc. operates as an apparel store. The Company provides men clothing, shoes, and accessories, as well as offers electronic commerce and catalog operations. Destination XL Group serves customers worldwide.

Destination Xl G has overhead space with shares priced $0.39, or 90.3% below the average consensus analyst price target of $4.00. The stock should run into initial resistance at its 50-day moving average (MA) of $0.59 and subsequent resistance at its 200-day MA of $1.28.

In the past 52 weeks, shares of Destination Xl G have traded between a low of $0.22 and a high of $2.16 and closed yesterday at $0.39, which is 77% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 4.2%.

SmarTrend is tracking the current trend status for Destination Xl G and will alert subscribers who have DXLG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle destination xl g

Ticker(s): DXLG