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Possible Bearish Inside Day Candle Pattern Detected for Charter Commun-A (NASDAQ:CHTR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Charter Commun-A (NASDAQ:CHTR) based on the price action in the company's shares. Yesterday's price range of $474.54 and $487.93 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 Charter Commun-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Charter Commun-A have traded between a low of $345.67 and a high of $546.54 and closed yesterday at $496.32, which is 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has risen 0.3%.

Based on a current price of $496.32, Charter Commun-A is currently 22.6% above its average consensus analyst price target of $384.00. The stock should find initial support at its 50-day moving average (MA) of $475.79 and further support at its 200-day MA of $450.87.

Charter Communications, Inc. operates as a cable telecommunications company. The Company offers cable broadcasting, internet, voice, and other business services. Charter Communications serves customers in the United States.

SmarTrend is tracking the current trend status for Charter Commun-A and will alert subscribers who have CHTR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle charter commun-a

Ticker(s): CHTR