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

By James Quinn

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 $27.81 and $27.96 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.

CenturyTel (NYSE:CTL) has potential upside of 10.5% based on a current price of $27.88 and analysts' consensus price target of $30.82. The stock should hit resistance at its 50-day moving average (MA) of $31.54, as well as support at its 200-day MA of $27.86.

In the past 52 weeks, CenturyTel share prices have been bracketed by a low of $21.94 and a high of $36.39 and are now at $27.88, 27% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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

Keywords: bullish inside day candle Centurytel

Ticker(s): CTL