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

By David Diaz

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 $364.01 and $364.01 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.

In the past 52 weeks, shares of Charter Commun-A have traded between a low of $250.10 and a high of $368.02 and are now at $364.01, which is 46% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has risen 0.6%.

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.

There is potential upside of 5.5% for shares of Charter Commun-A based on a current price of $364.01 and an average consensus analyst price target of $384.00. The stock should find initial support at its 50-day moving average (MA) of $329.66 and further support at its 200-day MA of $312.26.

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 11.4%. We continue to monitor CHTR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle charter commun-a

Ticker(s): CHTR