Possible Bearish Inside Day Candle Pattern Detected for Express (NYSE:EXPR)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Express (NYSE:EXPR) based on the price action in the company's shares. Today's price range of $11.95 and $12.08 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 Express may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
In the past 52 weeks, shares of Express have traded between a low of $11.44 and a high of $21.57 and are now at $11.96, which is 5% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.
Potential upside of 89.2% exists for Express, based on a current level of $11.96 and analysts' average consensus price target of $22.62. The stock should run into initial resistance at its 200-day moving average (MA) of $18.38 and subsequent resistance at its 50-day MA of $19.54.
Express, Inc. operates specialty retail apparel stores throughout the United States that target women and men between 20 and 30 years old. The Company offers apparel and accessories to address fashion needs across multiple aspects of their lifestyles including work, casual and going-out occasions. Express operates stores throughout the United States and retails online.
SmarTrend recommended that its subscribers protect gains by selling shares of Express on April 12th, 2016 by issuing a Downtrend alert when the shares were trading at $19.33. Since that call, shares of Express have fallen 37.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: bearish inside day candle express