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Possible Bearish Inside Day Candle Pattern Detected for Lumos Networks C (NYSE:LMOS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lumos Networks C (NYSE:LMOS) based on the price action in the company's shares. Yesterday's price range of $17.94 and $17.97 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 Lumos Networks C may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Lumos Networks Corp. is a fiber-based service provider in the Mid-Atlantic region serving carrier, business, and residential customers over a dense fiber network offering data, voice, and internet protocol services. With headquarters in Waynesboro, VA, Lumos Networks serves Virginia, West Virginia and portions of Pennsylvania, Kentucky, Ohio, and Maryland.

Lumos Networks C has overhead space with shares priced $17.95, or 0.3% below the average consensus analyst price target of $18.00. The stock should discover initial support at its 50-day moving average (MA) of $12.70 and subsequent support at its 200-day MA of $12.21.

Lumos Networks C share prices have moved between a 52-week high of $17.99 and a 52-week low of $10.67 and closed yesterday at 68% above that low price at $17.95 per share. The 200-day and 50-day moving averages have moved 0.27% lower and 0.71% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Lumos Networks C on August 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.74. Since that recommendation, shares of Lumos Networks C have risen 40.9%. We continue to monitor LMOS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle lumos networks c

Ticker(s): LMOS