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Possible Bearish Inside Day Candle Pattern Detected for Copa Holdings (NYSE:CPA)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Copa Holdings (NYSE:CPA) based on the price action in the company's shares. Today's price range of $83.22 and $84.92 is within yesterday'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 Copa Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Copa Holdings (NYSE:CPA) is currently priced 26.9% above its average consensus analyst price target of $61.00. The stock should discover initial support at its 50-day moving average (MA) of $65.44 and subsequent support at its 200-day MA of $56.35.

Copa Holdings share prices have moved between a 52-week high of $110.99 and a 52-week low of $39.03 and are now trading 114% above that low price at $83.47 per share. The 200-day and 50-day moving averages have moved 0.58% lower and 0.50% higher over the past week, respectively.

Copa Holdings SA provides international airline passenger and cargo service. The Company provides scheduled flights to countries in North, Central and South America and the Caribbean. The Company also has codeshare arrangements with Continental Airlines.

SmarTrend is monitoring the recent change of momentum in Copa Holdings. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Copa Holdings in search of a potential trend change.

Keywords: bearish inside day candle copa holdings

Ticker(s): CPA