• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Express Scripts (NASDAQ:ESRX)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Express Scripts (NASDAQ:ESRX) based on the price action in the company's shares. Today's price range of $73.42 and $74.70 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 Scripts 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, Express Scripts share prices have been bracketed by a low of $55.80 and a high of $85.07 and are now at $74.14, 33% above that low price. The 200-day and 50-day moving averages have moved 0.47% lower and 0.49% higher over the past week, respectively.

Express Scripts Holding Company is a full service pharmacy benefit management and specialty managed care company serving clients throughout North America. The Company's customers include managed care organizations, insurance carriers, third party administrators, employers, and union-sponsored benefit plans.

Express Scripts has overhead space with shares priced $74.14, or 11.8% below the average consensus analyst price target of $84.06. The stock should find resistance at its 200-day moving average (MA) of $79.88, as well as support at its 50-day MA of $70.71.

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

Keywords: bearish inside day candle Express Scripts

Ticker(s): ESRX