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Possible Bullish Inside Day Candle Pattern Detected for comScore (NASDAQ:SCOR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in comScore (NASDAQ:SCOR) based on the price action in the company's shares. Today's price range of $23.91 and $24.68 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 comScore 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, shares of comScore have traded between a low of $21.74 and a high of $65.00 and are now at $24.50, which is 13% above that low price. The 200-day and 50-day moving averages have moved 1.39% lower and 3.03% lower over the past week, respectively.

comScore Inc provides data-based Internet infrastructure services to the Internet electronic economy.

There is potential upside of 158.9% for shares of comScore based on a current price of $24.50 and an average consensus analyst price target of $63.43. comScore shares should first meet resistance at the 50-day moving average (MA) of $31.26 and find additional resistance at the 200-day MA of $42.08.

SmarTrend recommended that its subscribers protect gains by selling shares of comScore on March 1st, 2016 by issuing a Downtrend alert when the shares were trading at $39.04. Since that call, shares of comScore have fallen 39.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle ComScore

Ticker(s): SCOR