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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. Yesterday's price range of $39.60 and $40.53 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 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.

Over the past year, Dish Network-A has traded in a range of $23.22 to $44.66 and closed yesterday at $40.92, 76% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.2%.

There is potential upside of 50.9% for shares of Dish Network-A based on a current price of $40.92 and an average consensus analyst price target of $61.76. Dish Network-A shares have support at the 50-day moving average (MA) of $35.87 and additional support at the 200-day MA of $35.63.

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 recommended that subscribers consider buying shares of Dish Network-A on November 12th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.19. Since that recommendation, shares of Dish Network-A have risen 9.1%. We continue to monitor DISH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle dish network-a

Ticker(s): DISH