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Possible Bullish Inside Day Candle Pattern Detected for Telephone & Data (NYSE:TDS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Telephone & Data (NYSE:TDS) based on the price action in the company's shares. Yesterday's price range of $22.99 and $24.33 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 Telephone & Data may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Telephone & Data has overhead space with shares priced $23.74, or 29.5% below the average consensus analyst price target of $33.67. The stock should run into initial resistance at its 50-day moving average (MA) of $25.44 and subsequent resistance at its 200-day MA of $30.21.

Telephone and Data Systems, Inc. is a diversified telecommunications company. The Company operates primarily in the cellular, local telephone, and personal communications services markets. Telephone and Data Systems provides telecommunications services throughout the United States.

In the past 52 weeks, shares of Telephone & Data have traded between a low of $21.44 and a high of $37.09 and closed yesterday at $23.74, which is 11% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has slid 0.6%.

SmarTrend is tracking the current trend status for Telephone & Data and will alert subscribers who have TDS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle telephone & data

Ticker(s): TDS