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

By James Quinn

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 $76.14 and $77.25 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 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.

In the past 52 weeks, shares of Lamar Advertis-A have traded between a low of $64.51 and a high of $84.50 and are now at $76.14, which is 18% above that low price. The 200-day and 50-day moving averages have moved 0.05% higher and 0.28% lower over the past week, respectively.

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.

Based on a current price of $76.14, Lamar Advertis-A is currently 7.3% above its average consensus analyst price target of $70.60. The stock should run into initial resistance at its 200-day moving average (MA) of $77.41 and subsequent resistance at its 50-day MA of $80.07.

SmarTrend is tracking the current trend status for Lamar Advertis-A and will alert subscribers who have LAMR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle lamar advertis-a

Ticker(s): LAMR