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Possible Bullish Inside Day Candle Pattern Detected for New York Times-A (NYSE:NYT)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in New York Times-A (NYSE:NYT) based on the price action in the company's shares. Yesterday's price range of $33.06 and $33.34 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 New York Times-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.

Based on a current price of $33.02, New York Times-A is currently 31.1% above its average consensus analyst price target of $22.75. New York Times-A shares should encounter resistance at the 50-day moving average (MA) of $33.15 and support at its 200-day MA of $26.85.

The New York Times Company operates media businesses. The Company publishes daily newspapers and operates Internet websites. The newspapers and websites distribute news and entertainment.

In the past 52 weeks, shares of New York Times-A have traded between a low of $21.34 and a high of $34.85 and closed yesterday at $33.02, which is 55% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.3%.

SmarTrend is tracking the current trend status for New York Times-A and will alert subscribers who have NYT in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle new york times-a

Ticker(s): NYT