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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. Today's price range of $302.13 and $303.83 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 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.

In the past 52 weeks, shares of Charter Commun-A have traded between a low of $250.10 and a high of $408.83 and are now at $303.70, which is 21% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.9%.

Charter Commun-A has overhead space with shares priced $303.70, or 20.9% below the average consensus analyst price target of $384.00. The stock should hit resistance at its 200-day moving average (MA) of $318.95, as well as support at its 50-day MA of $292.19.

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

Keywords: bearish inside day candle charter commun-a

Ticker(s): CHTR