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Possible Bullish Inside Day Candle Pattern Detected for Dineequity Inc (NYSE:DIN)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Dineequity Inc (NYSE:DIN) based on the price action in the company's shares. Yesterday's price range of $35.64 and $43.00 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 Dineequity Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Dine Brands Global, Inc. develops, operates, and franchises family restaurants. The Company's restaurants feature pancakes, omelets, and other breakfast specialties, as well as lunch and dinner items. Dine Brands Global serves customers worldwide.

There is potential upside of 119.1% for shares of Dineequity Inc based on a current price of $42.68 and an average consensus analyst price target of $93.50. The stock should run into initial resistance at its 200-day moving average (MA) of $82.61 and subsequent resistance at its 50-day MA of $83.54.

In the past 52 weeks, shares of Dineequity Inc have traded between a low of $34.13 and a high of $104.46 and closed yesterday at $42.68, which is 25% above that low price. The 200-day and 50-day moving averages have moved 1.12% lower and 3.81% lower over the past week, respectively.

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

Keywords: bullish am inside day candle dineequity inc

Ticker(s): DIN