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

By Nick Russo

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. Today's price range of $83.71 and $84.29 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 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.

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.

Over the past year, Lamar Advertis-A has traded in a range of $64.51 to $84.50 and is now at $83.71, 30% above that low. The 200-day and 50-day moving averages have moved 0.14% higher and 0.19% higher over the past week, respectively.

Lamar Advertis-A (NASDAQ:LAMR) is currently priced 15.7% above its average consensus analyst price target of $70.60. Lamar Advertis-A shares have support at the 50-day moving average (MA) of $80.78 and additional support at the 200-day MA of $76.60.

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 inside day candle lamar advertis-a

Ticker(s): LAMR