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

Published on Mon, 02/04/2013 - 08:28
By Adrienne Chilton

Analyzing the price chart for DIRECTV (NASDAQ:DTV) has revealed a potential bullish inside day candle pattern. Yesterday's price range of $51.29 and $51.82 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.

DIRECTV (NASDAQ:DTV) has potential upside of 10.6% based on a current price of $51.74 and analysts' consensus price target of $57.21. The stock should find initial support at its 50-day moving average (MA) of $51.00 and further support at its 200-day MA of $49.78.

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.

Over the past year, DIRECTV has traded in a range of $39.82 to $55.17 and closed yesterday at $51.74, 30% above that low. The 200-day and 50-day moving averages have moved 0.17% higher and 0.70% higher over the past week, respectively.

By Adrienne Chilton