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

By Amy Schwartz

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. Today's price range of $8.40 and $8.49 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 Tivo Corp 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, Tivo Corp share prices have been bracketed by a low of $6.61 and a high of $14.08 and are now at $8.49, 28% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.8%.

TiVo Corporation provides media and entertainment products for the consumer entertainment industry worldwide. The company operates in two segments, Product and Intellectual Property Licensing.

Potential upside of 156.2% exists for Tivo Corp, based on a current level of $8.49 and analysts' average consensus price target of $21.75. The stock should find resistance at its 200-day moving average (MA) of $8.84, as well as support at its 50-day MA of $7.47.

SmarTrend is tracking the current trend status for Tivo Corp and will alert subscribers who have TIVO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle tivo corp

Ticker(s): TIVO