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Possible Bearish Inside Day Candle Pattern Detected for Zumiez Inc (NASDAQ:ZUMZ)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Zumiez Inc (NASDAQ:ZUMZ) based on the price action in the company's shares. Yesterday's price range of $29.80 and $30.49 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 Zumiez Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Zumiez Inc., is a specialty retailer of action sports related apparel, footwear, equipment, and accessories.

Zumiez Inc (NASDAQ:ZUMZ) is currently priced 13.8% above its average consensus analyst price target of $25.88. The stock should hit resistance at its 50-day moving average (MA) of $31.04, as well as support at its 200-day MA of $26.30.

Zumiez Inc share prices have moved between a 52-week high of $30.98 and a 52-week low of $11.43 and closed yesterday at 163% above that low price at $30.00 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.5%.

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

Keywords: bearish am inside day candle zumiez inc

Ticker(s): ZUMZ