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

By David Diaz

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 $160.17 and $160.99 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 Int (NYSE:CCI) is currently priced 30.7% above its average consensus analyst price target of $112.93. The stock should find initial support at its 50-day moving average (MA) of $143.08 and further support at its 200-day MA of $137.20.

In the past 52 weeks, Crown Castle Int share prices have been bracketed by a low of $116.79 and a high of $163.51 and closed yesterday at $162.94, 40% above that low price. The 200-day and 50-day moving averages have moved 0.39% higher and 1.06% higher over the past week, respectively.

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.

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