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

By Amy Schwartz

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 $12.03 and $12.19 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.

There is potential upside of 62.0% for shares of Centurylink Inc based on a current price of $12.13 and an average consensus analyst price target of $19.65. Centurylink Inc shares should encounter resistance at the 200-day moving average (MA) of $12.30 and support at the 50-day MA of $11.88.

In the past 52 weeks, Centurylink Inc share prices have been bracketed by a low of $9.64 and a high of $22.08 and are now at $12.13, 26% above that low price. The 200-day and 50-day moving averages have moved 0.41% lower and 0.02% lower over the past week, respectively.

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.

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

Keywords: bearish inside day candle centurylink inc

Ticker(s): CTL