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Possible Bearish Inside Day Candle Pattern Detected for Electronic Arts (NASDAQ:EA)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Electronic Arts (NASDAQ:EA) based on the price action in the company's shares. Today's price range of $112.70 and $113.69 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 Electronic Arts may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Electronic Arts Inc. develops, publishes, and distributes branded interactive entertainment software worldwide for video game consoles, personal computers, handheld game players, and cellular handsets. The Company also provides online game-related services.

Electronic Arts (NASDAQ:EA) has potential upside of 24.8% based on a current price of $112.99 and analysts' consensus price target of $141.00. The stock should find initial support at its 50-day moving average (MA) of $104.63 and further support at its 200-day MA of $100.87.

In the past 52 weeks, Electronic Arts share prices have been bracketed by a low of $73.74 and a high of $122.79 and are now at $112.99, 53% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.3%.

SmarTrend is tracking the current trend status for Electronic Arts and will alert subscribers who have EA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle Electronic Arts

Ticker(s): EA