New York, June 7th (TradersHuddle.com) - Flowers Foods, Inc. (NYSE:FLO) closed the trading session higher by $0.1 or 0.43% from its previous close. The latest price action developed a short term reversal pattern in the form of a tweezer top, which is a candlestick pattern that is usually formed at the end of an uptrend. Given that the tweezer top is considered a reversal pattern, traders with long positions need to monitor the price action for confirmation of weakness, and plan the position accordingly.

Flowers Foods, Inc. (NYSE:FLO) produces and markets packaged bakery foods for retail and foodservice customers. The Company offers fresh packaged and frozen bakery products as well as pastries, doughnuts and bakery snack products. Flowers markets its products using several national, regional and local brand names, such as Nature's Own, Whitewheat, ButterKrust, and Sunbeam.

Flowers Foods' stock has been in a defined range with calculated support at $19.40 and resistance at $21.66. Given the possibility of short-term weakness in the stock's price, this range could be used by traders managing their positions.

Tweezer tops are exactly the opposite of tweezer bottoms, as they define a resistance point for Flowers Foods that needs to be digested prior for the stock to move to a higher level.

Tweezer tops can be formed at the end of an uptrend, at a clear horizontal resistance point, or within a downtrend when price action is dealing with the declining resistance trend. Like any other candlestick pattern, it needs confirmation by trading below the previous day low. Below there is an example of the Tweezer Top reversal pattern: