• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Tivo Corp (NASDAQ:TIVO)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tivo Corp (NASDAQ:TIVO) based on the price action in the company's shares. Yesterday's price range of $8.72 and $8.93 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 Tivo Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 146.6% exists for Tivo Corp, based on a current level of $8.82 and analysts' average consensus price target of $21.75. The stock should find initial support at its 50-day moving average (MA) of $7.97 and further support at its 200-day MA of $7.69.

In the past 52 weeks, shares of Tivo Corp have traded between a low of $6.61 and a high of $11.64 and closed yesterday at $8.82, which is 33% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.

TiVo Corporation specializes in entertainment technology and audience insights. The Company offers services that allows viewers to record and control live television, customize viewing preferences, and access television shows. TiVo protects and distributes digital goods in the United States.

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

Keywords: bearish am inside day candle tivo corp

Ticker(s): TIVO