• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for L Brands Inc (NYSE:LB)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in L Brands Inc (NYSE:LB) based on the price action in the company's shares. Yesterday's price range of $10.48 and $10.54 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 L Brands 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.

L Brands Inc (NYSE:LB) has potential upside of 245.8% based on a current price of $11.50 and analysts' consensus price target of $39.77. The stock should find initial resistance at its 50-day moving average (MA) of $16.00 and further resistance at its 200-day MA of $18.83.

L Brands, Inc. sells women's apparel and beauty products. The Company offers various products including women's apparel, women's lingerie, beauty and personal care products, home fragrances, and other related products and accessories. L Brands serves customers in the United States, Canada, and the United Kingdom through specialty retail stores, websites, and catalogues.

L Brands Inc share prices have moved between a 52-week high of $28.02 and a 52-week low of $8.00 and closed yesterday at 44% above that low price at $11.50 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 5% while the 200-day MA has slid 1.2%.

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

Keywords: bullish am inside day candle l brands inc

Ticker(s): LB