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Possible Bearish Inside Day Candle Pattern Detected for Air Lease C (NYSE:AL)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Air Lease C (NYSE:AL) based on the price action in the company's shares. Yesterday's price range of $24.68 and $26.49 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. Owners of Air Lease C may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Air Lease Corporation operates an aircraft leasing company. The Company purchases, sales, and leases commercial aircrafts. Air Lease serves clients worldwide.

In the past 52 weeks, shares of Air Lease C have traded between a low of $8.41 and a high of $49.96 and closed yesterday at $26.15, which is 211% above that low price. The 200-day and 50-day moving averages have moved 0.83% lower and 5.74% lower over the past week, respectively.

There is potential upside of 121.1% for shares of Air Lease C based on a current price of $26.15 and an average consensus analyst price target of $57.82. The stock should find initial resistance at its 50-day moving average (MA) of $26.32 and further resistance at its 200-day MA of $39.39.

SmarTrend is tracking the current trend status for Air Lease C and will alert subscribers who have AL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle air lease c

Ticker(s): AL