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Possible Bearish Inside Day Candle Pattern Detected for International Ga (NYSE:IGT)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in International Ga (NYSE:IGT) based on the price action in the company's shares. Today's price range of $11.93 and $12.11 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 International Ga may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

International Ga share prices have moved between a 52-week high of $21.94 and a 52-week low of $11.32 and are now trading 7% above that low price at $12.07 per share. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.4%.

International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide.

International Ga (NYSE:IGT) has potential upside of 184.1% based on a current price of $12.07 and analysts' consensus price target of $34.29. The stock should run into initial resistance at its 50-day moving average (MA) of $13.19 and subsequent resistance at its 200-day MA of $14.62.

SmarTrend recommended that its subscribers protect gains by selling shares of International Ga on March 7th, 2019 by issuing a Downtrend alert when the shares were trading at $15.00. Since that call, shares of International Ga have fallen 18.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle international ga

Ticker(s): IGT