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Possible Bullish Inside Day Candle Pattern Detected for DigitalGlobe (NYSE:DGI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in DigitalGlobe (NYSE:DGI) based on the price action in the company's shares. Yesterday's price range of $27.01 and $27.21 is within the prior day'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 DigitalGlobe may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

DigitalGlobe Inc. is building a constellation of high-resolution earth imaging satellites and a geo-information product store Web site. The Company's DigitalGlobe System facilitates the collection and archival of geospatial information data and ensures flexible distribution. DigitalGlobe also offers services for project specific requirements.

Potential upside of 1.7% exists for DigitalGlobe, based on a current level of $27.03 and analysts' average consensus price target of $27.50. The stock should find initial support at its 200-day moving average (MA) of $18.23 and further support at its 50-day MA of $17.65.

DigitalGlobe share prices have moved between a 52-week high of $32.24 and a 52-week low of $11.80 and closed yesterday at 129% above that low price at $27.03 per share. The 200-day and 50-day moving averages have moved 0.46% lower and 3.35% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of DigitalGlobe on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.34. Since that recommendation, shares of DigitalGlobe have risen 65.1%. We continue to monitor DGI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle digitalglobe

Ticker(s): DGI