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Possible Bullish Inside Day Candle Pattern Detected for Brinker Intl (NYSE:EAT)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Brinker Intl (NYSE:EAT) based on the price action in the company's shares. Yesterday's price range of $42.88 and $43.50 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. Traders and investors interested in shares of Brinker Intl may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Brinker Intl has traded in a range of $36.44 to $51.72 and closed yesterday at $43.31, 19% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Brinker International, Inc. is a restaurant operator who owns, operates, or franchises establishments in the United States and Internationally. These restaurants offer customers burgers, ribs, salads, steaks, classic Italian fare, and Tex-Mex offerings.

Brinker Intl has overhead space with shares priced $43.31, or 3.6% below the average consensus analyst price target of $44.93. The stock should find resistance at its 50-day moving average (MA) of $43.47, as well as support at its 200-day MA of $41.78.

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

Keywords: bullish am inside day candle brinker intl

Ticker(s): EAT