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Possible Bullish Inside Day Candle Pattern Detected for Crown Castle International (NYSE:CCI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Crown Castle International (NYSE:CCI) based on the price action in the company's shares. Today's price range of $93.52 and $94.00 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 Crown Castle International may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 1.2% exists for Crown Castle International, based on a current level of $93.75 and analysts' average consensus price target of $94.85. Crown Castle International shares have support at the 50-day moving average (MA) of $86.74 and additional support at the 200-day MA of $84.27.

Crown Castle International Corp. engineers, deploys, owns, and operates shared wireless infrastructure. The Company offers wireless communications coverage to various United States markets and most of the Australian populations. Crown Castle owns, operates, and manages various wireless communication towers internationally.

Crown Castle International share prices have moved between a 52-week high of $102.82 and a 52-week low of $75.71 and are now trading 24% above that low price at $93.75 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Crown Castle International on July 26th, 2016 by issuing a Downtrend alert when the shares were trading at $96.90. Since that call, shares of Crown Castle International have fallen 3.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle crown castle international

Ticker(s): CCI