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Possible Bearish Inside Day Candle Pattern Detected for Crown Castle Int (NYSE:CCI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Crown Castle Int (NYSE:CCI) based on the price action in the company's shares. Yesterday's price range of $161.02 and $163.58 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 Crown Castle Int may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Crown Castle International Corp. operates as a real estate investment trust. The Company owns, operates, and leases towers and other infrastructure for wireless communications. Crown Castle manages and offers wireless communication coverage and infrastructure sites in the United States and Australia.

In the past 52 weeks, shares of Crown Castle Int have traded between a low of $114.18 and a high of $168.75 and closed yesterday at $157.05, which is 38% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.3%.

Crown Castle Int (NYSE:CCI) defies analysts with a current price ($157.05) 28.1% above its average consensus price target of $112.93. Crown Castle Int shares have support at the 50-day moving average (MA) of $150.85 and additional support at the 200-day MA of $141.45.

SmarTrend is tracking the current trend status for Crown Castle Int and will alert subscribers who have CCI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle crown castle int

Ticker(s): CCI