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Possible Bearish Inside Day Candle Pattern Detected for Cimpress Nv (NASDAQ:CMPR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cimpress Nv (NASDAQ:CMPR) based on the price action in the company's shares. Yesterday's price range of $119.40 and $123.50 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. Owners of Cimpress Nv may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Cimpress Nv share prices have moved between a 52-week high of $145.09 and a 52-week low of $73.74 and closed yesterday at 66% above that low price at $122.54 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.4%.

Cimpress NV operates as an online supplier of graphic design and customized printed products to businesses and consumers worldwide. The Company offers products such as customized apparel, marketing materials for businesses, and personalized photo products.

There is potential upside of 14.0% for shares of Cimpress Nv based on a current price of $122.54 and an average consensus analyst price target of $139.67. The stock should find initial support at its 50-day moving average (MA) of $116.37 and further support at its 200-day MA of $113.09.

SmarTrend is tracking the current trend status for Cimpress Nv and will alert subscribers who have CMPR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle cimpress nv

Ticker(s): CMPR