• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Consolidated Com (NASDAQ:CNSL)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Consolidated Com (NASDAQ:CNSL) based on the price action in the company's shares. Yesterday's price range of $4.34 and $4.39 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 Consolidated Com 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, Consolidated Com share prices have been bracketed by a low of $3.91 and a high of $14.23 and closed yesterday at $4.40, 13% above that low price. The 200-day and 50-day moving averages have moved 1.02% lower and 4.64% lower over the past week, respectively.

Consolidated Communications Holdings, Inc., through its subsidiaries, provides various integrated communications services to business and residential customers in the United States. It offers a range of communication services and products that include local and long-distance, high-speed broadband Internet access, video, voice over Internet protocol, private line, custom calling features, security, cloud, data center, managed and IT, and directory publishing services, as well as engages in equipment sales activities.

Potential upside of 222.0% exists for Consolidated Com, based on a current level of $4.40 and analysts' average consensus price target of $14.17. The stock should run into initial resistance at its 50-day moving average (MA) of $7.33 and subsequent resistance at its 200-day MA of $10.55.

SmarTrend recommended that its subscribers protect gains by selling shares of Consolidated Com on April 17th, 2019 by issuing a Downtrend alert when the shares were trading at $9.98. Since that call, shares of Consolidated Com have fallen 55.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle consolidated com

Ticker(s): CNSL