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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 $4.65 and $4.77 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 $4.69, or 31.8% below the average consensus analyst price target of $6.88. Gogo Inc shares have support at the 200-day moving average (MA) of $4.53 and additional support at the 50-day MA of $4.41.

In the past 52 weeks, shares of Gogo Inc have traded between a low of $2.64 and a high of $9.74 and closed yesterday at $4.69, which is 78% above that low price. The 200-day and 50-day moving averages have moved 0.09% lower and 0.43% higher over the past week, respectively.

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

Keywords: bearish am inside day candle gogo inc

Ticker(s): GOGO