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Possible Bearish Inside Day Candle Pattern Detected for Flowers Foods (NYSE:FLO)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Flowers Foods (NYSE:FLO) based on the price action in the company's shares. Today's price range of $22.71 and $22.88 is within yesterday'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 Flowers Foods may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Flowers Foods, Inc. produces and markets packaged bakery foods for retail and foodservice customers. The Company offers fresh packaged and frozen bakery products, as well as pastries, doughnuts, and bakery snack products. Flowers Foods serves customers in the State of Georgia.

Flowers Foods (NYSE:FLO) defies analysts with a current price ($22.76) 1.9% above its average consensus price target of $22.33. The stock should find initial support at its 200-day moving average (MA) of $22.21 and further support at its 50-day MA of $21.97.

Flowers Foods share prices have moved between a 52-week high of $25.08 and a 52-week low of $17.42 and are now trading 31% above that low price at $22.76 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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

Keywords: bearish inside day candle Flowers Foods

Ticker(s): FLO