Possible Bullish Inside Day Candle Pattern Detected for DIRECTV (NASDAQ:DTV)

Published on Fri, 03/13/2015 - 07:24
By Peter Chu in Candlestick, dtv, bullish am inside day candle, directv, nasdaq:dtv

Analysts have spotted a possible bullish inside day candle pattern in DIRECTV (NASDAQ:DTV) based on the price action in the company's shares. Yesterday's price range of $85.76 and $86.43 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 DIRECTV may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, DIRECTV has traded in a range of $72.28 to $89.46 and closed yesterday at $86.14, 19% above that low. The 200-day and 50-day moving averages have moved 0.06% higher and 0.05% lower over the past week, respectively.

The DIRECTV Group, Inc. provides digital television entertainment in the United States and Latin America. The Company acquires, promotes, sells and distributes digital entertainment programming via satellite to residential and commercial subscribers.

DIRECTV (NASDAQ:DTV) has potential upside of 8.5% based on a current price of $86.14 and analysts' consensus price target of $93.47. The stock should find resistance at its 50-day moving average (MA) of $86.57, as well as support at its 200-day MA of $85.86.

By Peter Chu
pchu@fnno.com

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