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Possible Bearish Inside Day Candle Pattern Detected for T-Mobile Us Inc (NASDAQ:TMUS)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in T-Mobile Us Inc (NASDAQ:TMUS) based on the price action in the company's shares. Yesterday's price range of $94.86 and $95.61 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 T-Mobile Us Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

T-Mobile Us Inc (NASDAQ:TMUS) is currently priced 19.6% above its average consensus analyst price target of $76.53. The stock should discover initial support at its 50-day moving average (MA) of $79.98 and subsequent support at its 200-day MA of $78.38.

T-Mobile US, Inc. is one of four national wireless carriers in the US. The company was created as the combination of T-Mobile USA and MetroPCS.

In the past 52 weeks, T-Mobile Us Inc share prices have been bracketed by a low of $68.18 and a high of $95.37 and closed yesterday at $95.16, 40% above that low price. The 200-day and 50-day moving averages have moved 0.50% higher and 1.42% higher over the past week, respectively.

SmarTrend is tracking the current trend status for T-Mobile Us Inc and will alert subscribers who have TMUS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle t-mobile us inc

Ticker(s): TMUS