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Possible Bullish Inside Day Candle Pattern Detected for Dish Network-A (NASDAQ:DISH)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Dish Network-A (NASDAQ:DISH) based on the price action in the company's shares. Yesterday's price range of $31.87 and $32.38 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 Dish Network-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 93.2% for shares of Dish Network-A based on a current price of $31.97 and an average consensus analyst price target of $61.76. The stock should find initial resistance at its 50-day moving average (MA) of $36.31 and further resistance at its 200-day MA of $46.59.

DISH Network Corp. provides a direct broadcast satellite subscription television, audio programming, and interactive television services to commercial and residential subscribers in the United States.

In the past 52 weeks, shares of Dish Network-A have traded between a low of $28.93 and a high of $66.50 and closed yesterday at $31.97, which is 11% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.5% while the 200-day MA has slid 1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Dish Network-A on December 27th, 2017 by issuing a Downtrend alert when the shares were trading at $48.03. Since that call, shares of Dish Network-A have fallen 33.7%. 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 dish network-a

Ticker(s): DISH