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Possible Bearish Inside Day Candle Pattern Detected for J2 Global Inc (NASDAQ:JCOM)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in J2 Global Inc (NASDAQ:JCOM) based on the price action in the company's shares. Today's price range of $85.31 and $85.31 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 J2 Global Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

J2 Global Inc has overhead space with shares priced $85.31, or 13.3% below the average consensus analyst price target of $98.40. The stock should find initial support at its 200-day moving average (MA) of $79.37 and further support at its 50-day MA of $78.00.

J2 Global Inc share prices have moved between a 52-week high of $91.58 and a 52-week low of $65.07 and are now trading 31% above that low price at $85.31 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has remained constant.

j2 Global, Inc. provides cloud-based communications and storage messaging services. The Company offers online fax, virtual voice, hosted email, email marketing, online backup, and unified communications services.

SmarTrend recommended that subscribers consider buying shares of J2 Global Inc on January 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $72.14. Since that recommendation, shares of J2 Global Inc have risen 17.9%. We continue to monitor JCOM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle j2 global inc

Ticker(s): JCOM