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Possible Bearish Inside Day Candle Pattern Detected for Lamar Advertis-A (NASDAQ:LAMR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lamar Advertis-A (NASDAQ:LAMR) based on the price action in the company's shares. Yesterday's price range of $79.47 and $79.95 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 Lamar Advertis-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $79.45, Lamar Advertis-A is currently 11.1% above its average consensus analyst price target of $70.60. The stock should hit resistance at its 50-day moving average (MA) of $80.63, as well as support at its 200-day MA of $76.38.

In the past 52 weeks, shares of Lamar Advertis-A have traded between a low of $64.51 and a high of $83.51 and closed yesterday at $79.45, which is 23% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Lamar Advertising Company owns and operates outdoor advertising structures in the United States. The Company provides poster and bulletin displays, as well as logo signs. Lamar also operates tourism signage franchises in the United States and Canada.

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

Keywords: bearish am inside day candle lamar advertis-a

Ticker(s): LAMR