• Return to Headlines

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

By Shiri Gupta

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. Yesterday's price range of $12.03 and $12.19 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 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 $9.64 to $22.08 and closed yesterday at $12.13, 26% above that low. The 200-day and 50-day moving averages have moved 0.39% lower and 0.07% higher 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.

Potential upside of 62.0% exists for Centurylink Inc, based on a current level of $12.13 and analysts' average consensus price target of $19.65. The stock should hit resistance at its 200-day moving average (MA) of $12.28, as well as support at its 50-day MA of $11.89.

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 am inside day candle centurylink inc

Ticker(s): CTL