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Possible Bearish Inside Day Candle Pattern Detected for Ralph Lauren Cor (NYSE:RL)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ralph Lauren Cor (NYSE:RL) based on the price action in the company's shares. Today's price range of $75.13 and $77.18 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 Ralph Lauren Cor may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Ralph Lauren Cor has traded in a range of $59.82 to $133.63 and is now at $76.48, 28% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.9% while the 200-day MA has slid 0.7%.

Ralph Lauren Corporation designs, markets, and distributes men's, women's and children's apparel, accessories, fragrances, and home furnishings. The Company's products are sold under a wide range of brands. Ralph Lauren's operations include wholesale, retail, and licensing.

There is potential upside of 47.0% for shares of Ralph Lauren Cor based on a current price of $76.48 and an average consensus analyst price target of $112.44. The stock should find initial resistance at its 50-day moving average (MA) of $96.56 and further resistance at its 200-day MA of $102.42.

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

Keywords: bearish inside day candle ralph lauren cor

Ticker(s): RL