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Possible Bearish Inside Day Candle Pattern Detected for Century Casinos (NASDAQ:CNTY)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Century Casinos (NASDAQ:CNTY) based on the price action in the company's shares. Yesterday's price range of $8.66 and $9.08 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. Owners of Century Casinos may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Century Casinos share prices have moved between a 52-week high of $9.85 and a 52-week low of $6.28 and closed yesterday at 42% above that low price at $8.91 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.4%.

Century Casinos, Inc. is an international casino entertainment company. The Company owns and operates casinos, hotels, and resorts in the US, Canada, South Africa, and the Czech Republic and operates casinos aboard luxury cruise vessels.

Century Casinos (NASDAQ:CNTY) has potential upside of 38.9% based on a current price of $8.91 and analysts' consensus price target of $12.38. The stock should discover initial support at its 200-day moving average (MA) of $8.39 and subsequent support at its 50-day MA of $8.27.

SmarTrend is monitoring the recent change of momentum in Century Casinos. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Century Casinos in search of a potential trend change.

Keywords: bearish am inside day candle century casinos

Ticker(s): CNTY