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Possible Bearish Inside Day Candle Pattern Detected for Centurylink Inc (NYSE:CTL)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Centurylink Inc (NYSE:CTL) based on the price action in the company's shares. Today's price range of $14.87 and $14.99 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. Owners of Centurylink Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

CenturyLink Inc. is an integrated communications company that provides communications services, including voice, local and long-distance, network access, private line including special access, public access, broadband, data, managed hosting including cloud hosting, colocation, wireless and video services.

In the past 52 weeks, Centurylink Inc share prices have been bracketed by a low of $9.64 and a high of $19.53 and are now at $14.93, 55% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.1%.

There is potential upside of 31.6% for shares of Centurylink Inc based on a current price of $14.93 and an average consensus analyst price target of $19.65. Centurylink Inc shares have support at the 50-day moving average (MA) of $12.78 and additional support at the 200-day MA of $12.06.

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

Keywords: bearish inside day candle centurylink inc

Ticker(s): CTL