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Possible Bullish Inside Day Candle Pattern Detected for Vivo Participacoes (NYSE:VIV)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Vivo Participacoes (NYSE:VIV) based on the price action in the company's shares. Today's price range of $13.60 and $13.69 is within yesterday'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 Vivo Participacoes may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Vivo Participacoes (NYSE:VIV) has potential upside of 12.6% based on a current price of $13.65 and analysts' consensus price target of $15.37. Vivo Participacoes shares have support at the 50-day moving average (MA) of $11.67 and additional support at the 200-day MA of $10.44.

Vivo Participacoes S.A. provides mobile telecommunication services, cellular phone data transmission and mobile internet services throughout Brazil.

Vivo Participacoes share prices have moved between a 52-week high of $16.33 and a 52-week low of $7.72 and are now trading 77% above that low price at $13.65 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.9% while the 200-day MA has slid 0.3%.

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

Keywords: bullish inside day candle vivo participacoes

Ticker(s): VIV