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Possible Bullish Inside Day Candle Pattern Detected for Liberty Global (NASDAQ:LBTYK)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Liberty Global (NASDAQ:LBTYK) based on the price action in the company's shares. Yesterday's price range of $31.72 and $32.02 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 Liberty Global may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Liberty Global (NASDAQ:LBTYK) has potential upside of 96.4% based on a current price of $31.73 and analysts' consensus price target of $62.31. The stock should find initial resistance at its 50-day moving average (MA) of $36.90 and further resistance at its 200-day MA of $40.21.

In the past 52 weeks, Liberty Global share prices have been bracketed by a low of $25.86 and a high of $54.74 and closed yesterday at $31.73, 23% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has remained constant.

Liberty Global, Inc. owns interests in broadband, distribution, and content companies operating outside the continental United States, principally in Europe, Asia, and Latin America.

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

Keywords: bullish am inside day candle liberty global

Ticker(s): LBTYK