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Possible Bearish Inside Day Candle Pattern Detected for Frontier Communications (NYSE:FTR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Frontier Communications (NYSE:FTR) based on the price action in the company's shares. Today's price range of $5.12 and $5.18 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 Frontier Communications may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 25.7% exists for Frontier Communications, based on a current level of $5.12 and analysts' average consensus price target of $6.44. The stock should find resistance at its 50-day moving average (MA) of $5.42, as well as support at its 200-day MA of $5.01.

Frontier Communications Corporation provides communications services to rural areas and small and medium-sized towns and cities. The Company offers a variety of voice, data, and Internet, and television services.

Frontier Communications share prices have moved between a 52-week high of $6.90 and a 52-week low of $3.81 and are now trading 34% above that low price at $5.12 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

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

Keywords: bearish inside day candle Frontier Communications

Ticker(s): FTR