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Possible Bearish Inside Day Candle Pattern Detected for Centurylink Inc (NYSE:CTL)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Centurylink Inc (NYSE:CTL) based on the price action in the company's shares. Today's price range of $18.31 and $18.47 is within yesterday'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 Centurylink Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Centurylink Inc has traded in a range of $13.16 to $33.45 and is now at $18.36, 40% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

CenturyLink Inc. is an integrated communications company that provides communications services, including voice, local and long-distance, network access, private line including special access, public access, broadband, data, managed hosting including cloud hosting, colocation, wireless and video services.

Potential upside of 7.0% exists for Centurylink Inc, based on a current level of $18.36 and analysts' average consensus price target of $19.64. The stock should run into initial resistance at its 200-day moving average (MA) of $27.86 and subsequent resistance at its 50-day MA of $31.54.

SmarTrend recommended that subscribers consider buying shares of Centurylink Inc on April 10th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $17.60. Since that recommendation, shares of Centurylink Inc have risen 5.1%. We continue to monitor CTL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle centurylink inc

Ticker(s): CTL