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Possible Bullish Inside Day Candle Pattern Detected for Discovery Comm-C (NASDAQ:DISCK)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Discovery Comm-C (NASDAQ:DISCK) based on the price action in the company's shares. Yesterday's price range of $26.14 and $26.60 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 Discovery Comm-C may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Based on a current price of $26.20, Discovery Comm-C is currently 0.7% above its average consensus analyst price target of $26.00. The stock should find resistance at its 50-day moving average (MA) of $28.65, as well as support at its 200-day MA of $25.01.

Discovery Communications, Inc. provides non-fiction entertainment. The Company operates a wide range of educational television channels as well as offers consumer and educational products and services, and a diversified portfolio of digital media services.

Discovery Comm-C share prices have moved between a 52-week high of $31.55 and a 52-week low of $14.99 and closed yesterday at 75% above that low price at $26.20 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Discovery Comm-C on November 20th, 2018 by issuing a Downtrend alert when the shares were trading at $27.06. Since that call, shares of Discovery Comm-C have fallen 4.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle discovery comm-c

Ticker(s): DISCK