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

By David Diaz

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 $25.38 and $25.60 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, 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.

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 17% above that low price at $25.59 per share. The 200-day and 50-day moving averages have moved 0.01% lower and 0.14% higher over the past week, respectively.

There is potential upside of 5.5% for shares of CenturyTel based on a current price of $25.59 and an average consensus analyst price target of $27.00. CenturyTel shares should first meet resistance at the 200-day moving average (MA) of $27.86 and find additional resistance at the 50-day MA of $31.54.

SmarTrend is tracking the current trend status for CenturyTel and will alert subscribers who have CTL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle Centurytel

Ticker(s): CTL