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Possible Bullish Inside Day Candle Pattern Detected for CA Inc (NASDAQ:CA)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in CA Inc (NASDAQ:CA) based on the price action in the company's shares. Today's price range of $33.95 and $34.08 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. Traders and investors interested in shares of CA Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, CA Inc share prices have been bracketed by a low of $25.16 and a high of $34.99 and are now at $34.01, 35% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

CA Inc (NASDAQ:CA) is currently priced 13.4% above its average consensus analyst price target of $29.45. The stock should discover initial support at its 50-day moving average (MA) of $30.23 and subsequent support at its 200-day MA of $28.55.

CA, Inc. designs, develops, markets, licenses, and supports standardized computer software products. The Company's products are used with mainframe computers and in client/server environments. CA offers various enterprise systems management, information management, and business applications solutions to a variety of organizations.

SmarTrend recommended that subscribers consider buying shares of CA Inc on May 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.46. Since that recommendation, shares of CA Inc have risen 7.9%. We continue to monitor CA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle ca inc

Ticker(s): CA