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Possible Bearish Inside Day Candle Pattern Detected for Dish Network-A (NASDAQ:DISH)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dish Network-A (NASDAQ:DISH) based on the price action in the company's shares. Today's price range of $24.82 and $25.28 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 Dish Network-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Dish Network-A (NASDAQ:DISH) has potential upside of 146.9% based on a current price of $25.02 and analysts' consensus price target of $61.76. Dish Network-A shares should encounter resistance at the 200-day moving average (MA) of $32.16 and support at the 50-day MA of $23.23.

In the past 52 weeks, Dish Network-A share prices have been bracketed by a low of $17.09 and a high of $44.66 and are now at $25.02, 46% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 5.5%.

DISH Network Corp. provides a direct broadcast satellite subscription television, audio programming, and interactive television services to commercial and residential subscribers in the United States.

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

Keywords: bearish inside day candle dish network-a

Ticker(s): DISH