• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Glu Mobile Inc (NASDAQ:GLUU)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Glu Mobile Inc (NASDAQ:GLUU) based on the price action in the company's shares. Yesterday's price range of $8.78 and $8.88 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 Glu Mobile 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.

In the past 52 weeks, Glu Mobile Inc share prices have been bracketed by a low of $5.08 and a high of $11.75 and closed yesterday at $8.79, 73% above that low price. The 200-day and 50-day moving averages have moved 0.56% higher and 0.22% lower over the past week, respectively.

Glu Mobile Inc (NASDAQ:GLUU) is currently priced 31.7% above its average consensus analyst price target of $6.00. The stock should find resistance at its 50-day moving average (MA) of $10.42, as well as support at its 200-day MA of $8.35.

Glu Mobile Inc. develops and publishes mobile games on a global basis. The Company develops its games and related applications based on third-party licensed brands and other intellectual property, as well as on its own brands and intellectual property.

SmarTrend is monitoring the recent change of momentum in Glu Mobile Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Glu Mobile Inc in search of a potential trend change.

Keywords: bullish am inside day candle glu mobile inc

Ticker(s): GLUU