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Possible Bearish Inside Day Candle Pattern Detected for Gogo Inc (NASDAQ:GOGO)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Gogo Inc (NASDAQ:GOGO) based on the price action in the company's shares. Yesterday's price range of $6.23 and $6.46 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 Gogo Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Gogo Inc. provides in-flight connectivity systems and services. The Company offers online aircraft systems, wireless digital entertainment and other services in the commercial and business aviation markets.

Gogo Inc has overhead space with shares priced $6.29, or 8.5% below the average consensus analyst price target of $6.88. Gogo Inc shares have support at the 50-day moving average (MA) of $5.62 and additional support at the 200-day MA of $4.80.

Gogo Inc share prices have moved between a 52-week high of $7.82 and a 52-week low of $2.64 and closed yesterday at 138% above that low price at $6.29 per share. The 200-day and 50-day moving averages have moved 0.78% higher and 2.59% higher over the past week, respectively.

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

Keywords: bearish am inside day candle gogo inc

Ticker(s): GOGO