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Possible Bullish Inside Day Candle Pattern Detected for Domino'S Pizza (:DPZ)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Domino'S Pizza (:DPZ) based on the price action in the company's shares. Yesterday's price range of $271.67 and $274.52 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 Domino'S Pizza may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Domino'S Pizza share prices have moved between a 52-week high of $302.05 and a 52-week low of $220.90 and closed yesterday at 24% above that low price at $273.40 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.2%.

Domino's Pizza, Inc. operates a network of company-owned and franchise Domino's Pizza stores, located throughout the United States and in other countries. The Company also operates regional dough manufacturing and distribution centers in the contiguous United States and outside the United States.

Domino'S Pizza (:DPZ) is currently priced 1.7% above its average consensus analyst price target of $268.88. Domino'S Pizza shares should encounter resistance at the 50-day moving average (MA) of $288.37 and support at its 200-day MA of $268.50.

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

Keywords: bullish am inside day candle :dpz domino's pizza

Ticker(s): DPZ