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Possible Bullish Inside Day Candle Pattern Detected for Consolidated Com (NASDAQ:CNSL)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Consolidated Com (NASDAQ:CNSL) based on the price action in the company's shares. Yesterday's price range of $5.26 and $5.54 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. Traders and investors interested in shares of Consolidated Com may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 160.4% for shares of Consolidated Com based on a current price of $5.44 and an average consensus analyst price target of $14.17. The stock should hit resistance at its 50-day moving average (MA) of $5.44, as well as support at its 200-day MA of $4.63.

In the past 52 weeks, shares of Consolidated Com have traded between a low of $3.24 and a high of $7.50 and closed yesterday at $5.44, which is 68% above that low price. The 200-day and 50-day moving averages have moved 0.05% higher and 1.79% lower over the past week, respectively.

Consolidated Communications Holdings, Inc. offers telecommunications services. The Company offers local and long distance telephone, digital telephone, high-speed internet access, and digital television services to individuals and businesses in Illinois, Pennsylvania, and Texas.

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

Keywords: bullish am inside day candle consolidated com

Ticker(s): CNSL