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Possible Bullish Inside Day Candle Pattern Detected for Air Lease C (NYSE:AL)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Air Lease C (NYSE:AL) based on the price action in the company's shares. Yesterday's price range of $43.51 and $43.98 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. Traders and investors interested in shares of Air Lease C may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Air Lease C share prices have moved between a 52-week high of $49.96 and a 52-week low of $31.98 and closed yesterday at 37% above that low price at $43.75 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

Air Lease Corporation operates an aircraft leasing company. The Company purchases, sales, and leases commercial aircrafts. Air Lease serves clients worldwide.

Potential upside of 32.2% exists for Air Lease C, based on a current level of $43.75 and analysts' average consensus price target of $57.82. Air Lease C shares should encounter resistance at the 50-day moving average (MA) of $46.44 and support at its 200-day MA of $42.56.

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

Keywords: bullish am inside day candle air lease c

Ticker(s): AL