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Possible Bearish Inside Day Candle Pattern Detected for Potbelly Corp (NASDAQ:PBPB)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Potbelly Corp (NASDAQ:PBPB) based on the price action in the company's shares. Yesterday's price range of $5.56 and $5.80 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 Potbelly Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potbelly Corp share prices have moved between a 52-week high of $9.42 and a 52-week low of $3.10 and closed yesterday at 81% above that low price at $5.61 per share. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 1.7%.

Potbelly Corporation operates as a chain of restaurants. The Company offers sandwiches, salads, soups, chili, sides, shakes, malts, smoothies, chicken, and baked goods. Potbelly serves customers in the United States.

Potbelly Corp (NASDAQ:PBPB) has potential upside of 142.4% based on a current price of $5.61 and analysts' consensus price target of $13.60. The stock should discover initial support at its 200-day moving average (MA) of $4.66 and subsequent support at its 50-day MA of $4.46.

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

Keywords: bearish am inside day candle potbelly corp

Ticker(s): PBPB