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Possible Bullish Inside Day Candle Pattern Detected for Five Below (NASDAQ:FIVE)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Five Below (NASDAQ:FIVE) based on the price action in the company's shares. Yesterday's price range of $113.79 and $116.16 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 Five Below may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Five Below, Inc. operates as a specialty value retailer. The Company offers products such as crafts, party, candy, sports, media, and seasonal products. Five Below serves its customers throughout the United States.

Five Below (NASDAQ:FIVE) is currently priced 32.2% above its average consensus analyst price target of $77.88. The stock should find initial resistance at its 50-day moving average (MA) of $120.87 and further resistance at its 200-day MA of $125.21.

Over the past year, Five Below has traded in a range of $95.52 to $148.22 and closed yesterday at $114.84, 20% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

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

Keywords: bullish am inside day candle five below

Ticker(s): FIVE