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Possible Bullish Inside Day Candle Pattern Detected for J2 Global Inc (NASDAQ:JCOM)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in J2 Global Inc (NASDAQ:JCOM) based on the price action in the company's shares. Yesterday's price range of $94.78 and $97.94 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 J2 Global 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, shares of J2 Global Inc have traded between a low of $65.07 and a high of $98.07 and closed yesterday at $97.80, which is 50% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.4%.

There is potential upside of 0.6% for shares of J2 Global Inc based on a current price of $97.80 and an average consensus analyst price target of $98.40. The stock should find initial support at its 50-day moving average (MA) of $90.33 and further support at its 200-day MA of $86.24.

j2 Global, Inc., together with its subsidiaries, provides Internet services worldwide. It operates through three segments: Fax and Email Marketing; Voice, Backup, and Security; and Digital Media.

SmarTrend is tracking the current trend status for J2 Global Inc and will alert subscribers who have JCOM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle j2 global inc

Ticker(s): JCOM