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Possible Bearish Inside Day Candle Pattern Detected for Intelsat Sa (NYSE:I)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Intelsat Sa (NYSE:I) based on the price action in the company's shares. Today's price range of $20.60 and $20.60 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 Intelsat Sa may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Intelsat Sa (NYSE:I) is currently priced 76.9% above its average consensus analyst price target of $4.76. The stock should hit resistance at its 200-day moving average (MA) of $23.12, as well as support at its 50-day MA of $18.35.

In the past 52 weeks, Intelsat Sa share prices have been bracketed by a low of $11.95 and a high of $37.70 and are now at $20.60, 72% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.7%.

Intelsat S.A. is a satellite services company that provides diversified communications services to the world's leading media companies, fixed and wireless telecommunications operators, data networking service providers for enterprise and mobile applications, multinational corporations and Internet service providers.

SmarTrend recommended that subscribers consider buying shares of Intelsat Sa on April 12th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.08. Since that recommendation, shares of Intelsat Sa have risen 15.2%. We continue to monitor I for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle intelsat sa

Ticker(s): I