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Possible Bearish Inside Day Candle Pattern Detected for Electronic Arts (NASDAQ:EA)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Electronic Arts (NASDAQ:EA) based on the price action in the company's shares. Today's price range of $97.48 and $98.62 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 Electronic Arts 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 Electronic Arts have traded between a low of $73.91 and a high of $151.26 and are now at $97.59, which is 32% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has slid 0.3%.

Potential upside of 44.5% exists for Electronic Arts, based on a current level of $97.59 and analysts' average consensus price target of $141.00. The stock should find initial support at its 200-day moving average (MA) of $95.60 and further support at its 50-day MA of $94.20.

Electronic Arts Inc. develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide.

SmarTrend is tracking the current trend status for Electronic Arts and will alert subscribers who have EA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle Electronic Arts

Ticker(s): EA