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Possible Bullish Inside Day Candle Pattern Detected for Entravision Co-A (NYSE:EVC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Entravision Co-A (NYSE:EVC) based on the price action in the company's shares. Yesterday's price range of $1.53 and $1.67 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 Entravision Co-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Entravision Communications Corporation, a diversified media company, conducts television, radio, outdoor, and publishing operations. The Company's operations are geared towards Hispanic consumers in the United States.

Over the past year, Entravision Co-A has traded in a range of $1.45 to $3.52 and closed yesterday at $1.64, 13% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 1.9%.

Entravision Co-A has overhead space with shares priced $1.64, or 67.2% below the average consensus analyst price target of $5.00. The stock should run into initial resistance at its 50-day moving average (MA) of $2.01 and subsequent resistance at its 200-day MA of $2.67.

SmarTrend recommended that its subscribers protect gains by selling shares of Entravision Co-A on March 22nd, 2019 by issuing a Downtrend alert when the shares were trading at $3.42. Since that call, shares of Entravision Co-A have fallen 56.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle entravision co-a

Ticker(s): EVC