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Possible Bearish Inside Day Candle Pattern Detected for L-3 Communications (NYSE:LLL)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in L-3 Communications (NYSE:LLL) based on the price action in the company's shares. Today's price range of $148.26 and $150.25 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 L-3 Communications may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

L-3 Communications (NYSE:LLL) defies analysts with a current price ($148.37) 9.5% above its average consensus price target of $134.22. The stock should discover initial support at its 50-day moving average (MA) of $121.54 and subsequent support at its 200-day MA of $116.78.

L-3 Communications share prices have moved between a 52-week high of $150.77 and a 52-week low of $101.11 and are now trading 47% above that low price at $148.37 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has risen 0.2%.

L-3 Communications Holdings, Inc. is a prime system contractor in aircraft modernization and maintenance, Command, Control, Communications, Intelligence, Surveillance and Reconnaissance (C3ISR) systems, and government services. The Company's customers include the DoD, aerospace prime contractors, and commercial telecommunications customers.

SmarTrend is monitoring the recent change of momentum in L-3 Communications. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of L-3 Communications in search of a potential trend change.

Keywords: bearish inside day candle l-3 communications

Ticker(s): LLL