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Possible Bullish Inside Day Candle Pattern Detected for Tivo Corp (NASDAQ:TIVO)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Tivo Corp (NASDAQ:TIVO) based on the price action in the company's shares. Yesterday's price range of $6.88 and $7.04 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 Tivo 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.

There is potential upside of 212.9% for shares of Tivo Corp based on a current price of $6.95 and an average consensus analyst price target of $21.75. The stock should run into initial resistance at its 200-day moving average (MA) of $7.75 and subsequent resistance at its 50-day MA of $8.02.

In the past 52 weeks, Tivo Corp share prices have been bracketed by a low of $6.61 and a high of $11.64 and closed yesterday at $6.95, 5% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.7%.

TiVo Corporation specializes in entertainment technology and audience insights. The Company offers services that allows viewers to record and control live television, customize viewing preferences, and access television shows. TiVo protects and distributes digital goods in the United States.

SmarTrend is monitoring the recent change of momentum in Tivo Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Tivo Corp in search of a potential trend change.

Keywords: bullish am inside day candle tivo corp

Ticker(s): TIVO