• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Charter Commun-A (NASDAQ:CHTR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Charter Commun-A (NASDAQ:CHTR) based on the price action in the company's shares. Yesterday's price range of $383.00 and $385.01 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 Charter Commun-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Charter Communications, Inc. operates as a cable telecommunications company. The Company offers cable broadcasting, internet, voice, and other business services. Charter Communications serves customers in the United States.

Charter Commun-A (NASDAQ:CHTR) is currently priced 0.2% above its average consensus analyst price target of $384.00. Charter Commun-A shares have support at the 50-day moving average (MA) of $366.81 and additional support at the 200-day MA of $330.90.

Over the past year, Charter Commun-A has traded in a range of $260.39 to $392.14 and closed yesterday at $384.96, 48% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.4%.

SmarTrend recommended that subscribers consider buying shares of Charter Commun-A on January 31st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $328.81. Since that recommendation, shares of Charter Commun-A have risen 17.9%. We continue to monitor CHTR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle charter commun-a

Ticker(s): CHTR