• Return to Headlines

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

By James Quinn

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 $76.76 and $77.69 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.

Express Scripts share prices have moved between a 52-week high of $85.07 and a 52-week low of $55.80 and are now trading 38% above that low price at $77.01 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.2%.

Potential upside of 11.8% exists for Express Scripts, based on a current level of $77.01 and analysts' average consensus price target of $86.12. The stock should find initial support at its 50-day moving average (MA) of $72.64 and further support at its 200-day MA of $68.93.

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.

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

Keywords: bearish inside day candle Express Scripts

Ticker(s): ESRX