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Possible Bearish Inside Day Candle Pattern Detected for Globalstar Inc. (:GSAT)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Globalstar Inc. (:GSAT) based on the price action in the company's shares. Today's price range of $0.60 and $0.62 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 Globalstar Inc. may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Globalstar Inc. (:GSAT) has potential upside of 165.6% based on a current price of $0.60 and analysts' consensus price target of $1.60. Globalstar Inc. shares have support at the 200-day moving average (MA) of $0.50 and additional support at the 50-day MA of $0.45.

Globalstar Inc. share prices have moved between a 52-week high of $0.69 and a 52-week low of $0.39 and are now trading 54% above that low price at $0.60 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has risen 0.8%.

SmarTrend is monitoring the recent change of momentum in Globalstar Inc.. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Globalstar Inc. in search of a potential trend change.

Keywords: bearish inside day candle :gsat globalstar inc.

Ticker(s): GSAT