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Possible Bullish Inside Day Candle Pattern Detected for Sba Comm Corp (NASDAQ:SBAC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Sba Comm Corp (NASDAQ:SBAC) based on the price action in the company's shares. Yesterday's price range of $237.46 and $238.78 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 Sba Comm Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

SBA Communications Corporation owns and operates wireless communications infrastructure in the United States. The Company offers site leasing and development, construction, and consulting services. SBA Communications leases antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts.

Based on a current price of $240.03, Sba Comm Corp is currently 25.3% above its average consensus analyst price target of $179.39. Sba Comm Corp shares have support at the 50-day moving average (MA) of $236.07 and additional support at the 200-day MA of $231.39.

In the past 52 weeks, shares of Sba Comm Corp have traded between a low of $163.04 and a high of $270.42 and closed yesterday at $240.03, which is 47% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.2%.

SmarTrend is tracking the current trend status for Sba Comm Corp and will alert subscribers who have SBAC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle sba comm corp

Ticker(s): SBAC