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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Electronic Arts (NASDAQ:EA) based on the price action in the company's shares. Yesterday's price range of $105.40 and $106.45 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 Electronic Arts may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Electronic Arts (NASDAQ:EA) has potential upside of 30.9% based on a current price of $107.75 and analysts' consensus price target of $141.00. The stock should find initial support at its 50-day moving average (MA) of $106.66 and further support at its 200-day MA of $97.59.

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 share prices have moved between a 52-week high of $122.79 and a 52-week low of $73.74 and closed yesterday at 46% above that low price at $107.75 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.2%.

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: bullish am inside day candle Electronic Arts

Ticker(s): EA