Possible Bullish Inside Day Candle Pattern Detected for Lan Airlines (NYSE:LFL)
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. Yesterday's price range of $7.74 and $7.84 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 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 share prices have moved between a 52-week high of $9.85 and a 52-week low of $4.35 and closed yesterday at 78% above that low price at $7.74 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.
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.
Based on a current price of $7.74, Lan Airlines is currently 22.0% above its average consensus analyst price target of $6.04. The stock should find initial support at its 50-day moving average (MA) of $6.77 and further support at its 200-day MA of $5.77.
SmarTrend recommended that subscribers consider buying shares of Lan Airlines on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.88. Since that recommendation, shares of Lan Airlines have risen 11.3%. We continue to monitor LFL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: bullish am inside day candle LAN Airlines