• Return to Headlines

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

By David Diaz

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 $24.75 and $25.28 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.

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.

Dish Network-A has overhead space with shares priced $25.93, or 58.0% below the average consensus analyst price target of $61.76. The stock should find resistance at its 200-day moving average (MA) of $32.09, as well as support at its 50-day MA of $23.06.

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 closed yesterday at $25.93, 52% above that low price. The 200-day and 50-day moving averages have moved 0.77% lower and 2.47% lower over the past week, respectively.

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 am inside day candle dish network-a

Ticker(s): DISH