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Possible Bearish Inside Day Candle Pattern Detected for Dineequity Inc (NYSE:DIN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dineequity Inc (NYSE:DIN) based on the price action in the company's shares. Yesterday's price range of $31.00 and $34.49 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 Dineequity Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Dine Brands Global, Inc. develops, operates, and franchises family restaurants. The Company's restaurants feature pancakes, omelets, and other breakfast specialties, as well as lunch and dinner items. Dine Brands Global serves customers worldwide.

In the past 52 weeks, Dineequity Inc share prices have been bracketed by a low of $14.16 and a high of $104.46 and closed yesterday at $32.61, 130% above that low price. The 200-day and 50-day moving averages have moved 2.03% lower and 7.45% lower over the past week, respectively.

Potential upside of 186.7% exists for Dineequity Inc, based on a current level of $32.61 and analysts' average consensus price target of $93.50. Dineequity Inc shares should first meet resistance at the 50-day moving average (MA) of $71.56 and find additional resistance at the 200-day MA of $79.30.

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

Keywords: bearish am inside day candle dineequity inc

Ticker(s): DIN