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

By David Diaz

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 $10.00 and $10.48 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. 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.

There is potential upside of 22.1% for shares of Gannett Co Inc based on a current price of $10.37 and an average consensus analyst price target of $12.67. Gannett Co Inc shares should first meet resistance at the 200-day moving average (MA) of $15.05 and find additional resistance at the 50-day MA of $15.53.

In the past 52 weeks, shares of Gannett Co Inc have traded between a low of $7.30 and a high of $15.17 and closed yesterday at $10.37, which is 42% above that low price. The 200-day and 50-day moving averages have moved 0.34% higher and 0.91% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Gannett Co Inc on February 5th, 2018 by issuing a Downtrend alert when the shares were trading at $10.82. Since that call, shares of Gannett Co Inc have fallen 7.9%. 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 gannett co inc

Ticker(s): GCI