SmarTrend's candlestick pattern scanner has detected a potential bearish inside day candle pattern for shares of Central European Media Enterprises (NASDAQ:CETV). Today's price range of 20.72 and 21.62 is within yesterday's price range.
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 Central European Media Enterprises may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Owners of Central European Media Enterprises may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
SmarTrend issued a Downtrend alert on shares of Central European Media Enterprises on May 05, 2010 at $28.55 per share (25.5% return since that call). This bearish candle pattern may point to a continuation of the previously called Downtrend.