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Possible Bearish Inside Day Candle Pattern Detected for Exponent Inc (NASDAQ:EXPO)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Exponent Inc (NASDAQ:EXPO) based on the price action in the company's shares. Yesterday's price range of $67.89 and $68.74 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 Exponent Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Exponent Inc has traded in a range of $48.42 to $72.60 and closed yesterday at $68.30, 41% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

Exponent Inc (NASDAQ:EXPO) has potential upside of 39.8% based on a current price of $68.30 and analysts' consensus price target of $95.50. The stock should discover initial support at its 50-day moving average (MA) of $65.28 and subsequent support at its 200-day MA of $62.58.

Exponent, Inc. operates as a science and engineering consulting firm. The Company performs scientific research, analysis, and evaluations to solve complicated issues facing a range of industries and governments. Exponent serves customers worldwide.

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

Keywords: bearish am inside day candle exponent inc

Ticker(s): EXPO