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Possible Bearish Inside Day Candle Pattern Detected for L3 Technologies (NYSE:LLL)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in L3 Technologies (NYSE:LLL) based on the price action in the company's shares. Yesterday's price range of $229.40 and $232.15 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 L3 Technologies may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 3.9% exists for L3 Technologies, based on a current level of $229.86 and analysts' average consensus price target of $238.94. L3 Technologies shares have support at the 50-day moving average (MA) of $211.08 and additional support at the 200-day MA of $201.39.

In the past 52 weeks, shares of L3 Technologies have traded between a low of $158.76 and a high of $235.00 and closed yesterday at $229.86, which is 45% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.2%.

L3 Technologies, Inc. provides communication and electronic equipment. The Company offers surveillance, antenna, aircraft simulation, laser rangefinding, modification, and image intensification equipment. L3 Technologies serves customers worldwide.

SmarTrend recommended that subscribers consider buying shares of L3 Technologies on January 14th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $176.53. Since that recommendation, shares of L3 Technologies have risen 31.8%. We continue to monitor LLL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle l3 technologies

Ticker(s): LLL