• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Outfront Media I (NYSE:OUT)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Outfront Media I (NYSE:OUT) based on the price action in the company's shares. Yesterday's price range of $26.80 and $27.21 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 Outfront Media I 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, Outfront Media I share prices have been bracketed by a low of $16.81 and a high of $28.35 and closed yesterday at $27.07, 61% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.3%.

Outfront Media I (NYSE:OUT) is currently priced 7.0% above its average consensus analyst price target of $25.17. Outfront Media I shares have support at the 50-day moving average (MA) of $27.04 and additional support at the 200-day MA of $23.66.

OUTFRONT Media Inc. leases advertising space on out-of-home advertising structures and sites. The Company maintains a portfolio consisting of billboard displays and municipal transit systems in the United States, Canada, and Latin America.

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

Keywords: bearish am inside day candle outfront media i

Ticker(s): OUT