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

By David Diaz

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. Yesterday's price range of $73.42 and $74.70 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 Express Scripts may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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 share prices have moved between a 52-week high of $85.07 and a 52-week low of $55.80 and closed yesterday at 32% above that low price at $73.76 per share. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.5%.

Express Scripts (NASDAQ:ESRX) has potential upside of 14.0% based on a current price of $73.76 and analysts' consensus 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 am inside day candle Express Scripts

Ticker(s): ESRX