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Possible Bearish Inside Day Candle Pattern Detected for Foot Locker Inc (NYSE:FL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Foot Locker Inc (NYSE:FL) based on the price action in the company's shares. Today's price range of $24.89 and $25.43 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 Foot Locker Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Foot Locker Inc has overhead space with shares priced $25.34, or 50.8% below the average consensus analyst price target of $51.50. Foot Locker Inc shares should encounter resistance at the 200-day moving average (MA) of $36.43 and support at the 50-day MA of $24.16.

Foot Locker, Inc. retails footwear. The Company offers athletics footware, apparel, and equipment for men, women, and kids. Foot Locker serves customers worldwide.

Over the past year, Foot Locker Inc has traded in a range of $17.46 to $58.01 and is now at $25.34, 45% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 4.8%.

SmarTrend is tracking the current trend status for Foot Locker Inc and will alert subscribers who have FL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle foot locker inc

Ticker(s): FL