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

By Nick Russo

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 $468.87 and $473.56 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.

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.

Charter Commun-A (NASDAQ:CHTR) is currently priced 18.3% above its average consensus analyst price target of $384.00. The stock should discover initial support at its 50-day moving average (MA) of $448.32 and subsequent support at its 200-day MA of $397.26.

Over the past year, Charter Commun-A has traded in a range of $272.91 to $485.99 and closed yesterday at $470.01, 72% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.8%.

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