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Possible Bearish Inside Day Candle Pattern Detected for Dish Network-A (NASDAQ:DISH)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dish Network-A (NASDAQ:DISH) based on the price action in the company's shares. Today's price range of $39.60 and $40.53 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 Dish Network-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

DISH Network Corp. provides a direct broadcast satellite subscription television, audio programming, and interactive television services to commercial and residential subscribers in the United States.

Dish Network-A (NASDAQ:DISH) has potential upside of 52.4% based on a current price of $40.52 and analysts' consensus price target of $61.76. The stock should discover initial support at its 50-day moving average (MA) of $35.75 and subsequent support at its 200-day MA of $35.61.

In the past 52 weeks, shares of Dish Network-A have traded between a low of $23.22 and a high of $44.66 and are now at $40.52, which is 75% above that low price. The 200-day and 50-day moving averages have moved 0.14% higher and 0.45% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Dish Network-A on November 12th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.19. Since that recommendation, shares of Dish Network-A have risen 9.1%. We continue to monitor DISH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle dish network-a

Ticker(s): DISH