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Possible Bullish Inside Day Candle Pattern Detected for Centurylink Inc (NYSE:CTL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Centurylink Inc (NYSE:CTL) based on the price action in the company's shares. Yesterday's price range of $13.14 and $13.28 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 Centurylink 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.

Centurylink Inc has overhead space with shares priced $13.26, or 32.5% below the average consensus analyst price target of $19.65. Centurylink Inc shares should encounter resistance at the 50-day moving average (MA) of $13.65 and support at its 200-day MA of $12.13.

CenturyLink Inc. is an integrated communications company that provides communications services, including voice, local and long-distance, network access, private line including special access, public access, broadband, data, managed hosting including cloud hosting, colocation, wireless and video services.

In the past 52 weeks, shares of Centurylink Inc have traded between a low of $9.64 and a high of $17.08 and closed yesterday at $13.26, which is 38% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.

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

Keywords: bullish am inside day candle centurylink inc

Ticker(s): CTL