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Possible Bullish Inside Day Candle Pattern Detected for Lan Airlines (NYSE:LFL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Lan Airlines (NYSE:LFL) based on the price action in the company's shares. Today's price range of $6.49 and $6.58 is within yesterday'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 Lan Airlines may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Lan Airlines S.A. provides domestic and international passenger and cargo air services. The Company operates in Chile, the United States, the South Pacific, Europe, and Latin America.

Lan Airlines (NYSE:LFL) is currently priced 7.0% above its average consensus analyst price target of $6.04. Lan Airlines shares should encounter resistance at the 50-day moving average (MA) of $6.77 and support at its 200-day MA of $5.77.

In the past 52 weeks, Lan Airlines share prices have been bracketed by a low of $4.35 and a high of $9.85 and are now at $6.49, 49% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Lan Airlines on February 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.75. Since that recommendation, shares of Lan Airlines have risen 12.3%. We continue to monitor LFL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle LAN Airlines

Ticker(s): LFL