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Possible Bullish Inside Day Candle Pattern Detected for Godaddy Inc-A (NYSE:GDDY)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Godaddy Inc-A (NYSE:GDDY) based on the price action in the company's shares. Yesterday's price range of $71.28 and $74.03 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 Godaddy Inc-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.

GoDaddy, Inc. provides a cloud-based web platform for small businesses, web design professionals and individuals. The Company's platform provides applications that help them connect to their customers, manage their businesses and get found online.

In the past 52 weeks, shares of Godaddy Inc-A have traded between a low of $43.40 and a high of $84.97 and closed yesterday at $72.00, which is 66% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has remained constant.

Godaddy Inc-A (NYSE:GDDY) has potential upside of 7.1% based on a current price of $72.00 and analysts' consensus price target of $77.08. The stock should find resistance at its 50-day moving average (MA) of $78.87, as well as support at its 200-day MA of $67.86.

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

Keywords: bullish am inside day candle godaddy inc-a

Ticker(s): GDDY