• Return to Headlines

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

By Amy Schwartz

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 $5.25 and $5.43 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.

There is potential upside of 28.3% for shares of Gogo Inc based on a current price of $5.36 and an average consensus analyst price target of $6.88. The stock should find resistance at its 50-day moving average (MA) of $5.66, as well as support at its 200-day MA of $5.18.

Gogo Inc share prices have moved between a 52-week high of $7.23 and a 52-week low of $3.58 and closed yesterday at 50% above that low price at $5.36 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has risen 0.3%.

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.

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