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Possible Bullish Inside Day Candle Pattern Detected for Denny'S Corp (NASDAQ:DENN)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Denny'S Corp (NASDAQ:DENN) based on the price action in the company's shares. Yesterday's price range of $20.95 and $21.27 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 Denny'S Corp 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, Denny'S Corp has traded in a range of $10.02 to $21.50 and closed yesterday at $21.05, 110% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

Denny's Corporation operates as a full-service family restaurant chain directly and through franchises. The Company manages restaurants under the Denny's name in the United States, Canada, Costa Rica, Guam, Mexico, New Zealand, and Puerto Rico.

Based on a current price of $21.05, Denny'S Corp is currently 10.5% above its average consensus analyst price target of $18.83. The stock should find initial support at its 200-day moving average (MA) of $20.77 and further support at its 50-day MA of $20.12.

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

Keywords: bullish am inside day candle denny's corp

Ticker(s): DENN