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

By Amy Schwartz

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 $27.58 and $27.82 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.

Discovery Comm-C (NASDAQ:DISCK) is currently priced 5.6% above its average consensus analyst price target of $26.00. The stock should discover initial support at its 50-day moving average (MA) of $26.85 and subsequent support at its 200-day MA of $26.75.

Discovery Comm-C share prices have moved between a 52-week high of $31.55 and a 52-week low of $19.08 and closed yesterday at 44% above that low price at $27.55 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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.

SmarTrend is tracking the current trend status for Discovery Comm-C and will alert subscribers who have DISCK in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle discovery comm-c

Ticker(s): DISCK