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Possible Bearish Inside Day Candle Pattern Detected for Dollar General C (NYSE:DG)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dollar General C (NYSE:DG) based on the price action in the company's shares. Yesterday's price range of $155.21 and $156.85 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 Dollar General C may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $156.59, Dollar General C is currently 31.6% above its average consensus analyst price target of $107.10. The stock should find initial support at its 50-day moving average (MA) of $156.53 and further support at its 200-day MA of $143.77.

In the past 52 weeks, Dollar General C share prices have been bracketed by a low of $108.74 and a high of $166.98 and closed yesterday at $156.59, 44% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.2%.

Dollar General Corporation operates a chain of discount retail stores located primarily in the southern, southwestern, midwestern, and eastern United States. The Company offer a broad selection of merchandise, including consumable products such as food, paper and cleaning products, health, beauty, pet supplies, and non-consumable products such as seasonal merchandise.

SmarTrend is tracking the current trend status for Dollar General C and will alert subscribers who have DG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle dollar general c

Ticker(s): DG