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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in CenturyTel (NYSE:CTL) based on the price action in the company's shares. Today's price range of $27.08 and $27.64 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 CenturyTel may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 12.5% for shares of CenturyTel based on a current price of $27.39 and an average consensus analyst price target of $30.82. The stock should find initial resistance at its 200-day moving average (MA) of $27.86 and further resistance at its 50-day MA of $31.54.

CenturyTel share prices have moved between a 52-week high of $36.39 and a 52-week low of $21.94 and are now trading 25% above that low price at $27.39 per share. The 200-day and 50-day moving averages have moved 0.01% lower and 0.14% higher over the past week, respectively.

CenturyTel, Inc. is an integrated communications company. The Company provides a wide range of communications services, including local and long distance voice, Internet access and broadband services. CenturyTel operates throughout the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of CenturyTel on May 3rd, 2016 by issuing a Downtrend alert when the shares were trading at $30.61. Since that call, shares of CenturyTel have fallen 12.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle Centurytel

Ticker(s): CTL