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Possible Bullish Inside Day Candle Pattern Detected for Gannett Co Inc (NYSE:GCI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Gannett Co Inc (NYSE:GCI) based on the price action in the company's shares. Yesterday's price range of $9.65 and $9.77 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 Gannett Co Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Gannett Co Inc share prices have moved between a 52-week high of $11.99 and a 52-week low of $8.37 and closed yesterday at 15% above that low price at $9.60 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.

Gannett Co., Inc. operates as a media and marketing company. The Company offers print and digital daily and non-daily publications. Gannett serves customers in the United States and the United Kingdom.

Gannett Co Inc (NYSE:GCI) has potential upside of 23.7% based on a current price of $9.60 and analysts' consensus price target of $11.88. The stock should run into initial resistance at its 200-day moving average (MA) of $10.26 and subsequent resistance at its 50-day MA of $10.70.

SmarTrend is tracking the current trend status for Gannett Co Inc and will alert subscribers who have GCI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle gannett co inc

Ticker(s): GCI