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Possible Bullish Inside Day Candle Pattern Detected for Crown Castle Int (NYSE:CCI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Crown Castle Int (NYSE:CCI) based on the price action in the company's shares. Yesterday's price range of $138.59 and $139.28 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. Traders and investors interested in shares of Crown Castle Int may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Crown Castle Int (NYSE:CCI) is currently priced 19.0% above its average consensus analyst price target of $112.93. The stock should find initial support at its 50-day moving average (MA) of $136.01 and further support at its 200-day MA of $134.47.

Crown Castle International Corp. operates as a real estate investment trust. The Company owns, operates, and leases towers and other infrastructure for wireless communications. Crown Castle manages and offers wireless communication coverage and infrastructure sites in the United States and Australia.

Over the past year, Crown Castle Int has traded in a range of $104.22 to $149.47 and closed yesterday at $139.44, 34% above that low. The 200-day and 50-day moving averages have moved 0.16% higher and 0.07% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Crown Castle Int and will alert subscribers who have CCI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle crown castle int

Ticker(s): CCI