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Possible Bearish Inside Day Candle Pattern Detected for Leidos Holdings (NYSE:LDOS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Leidos Holdings (NYSE:LDOS) based on the price action in the company's shares. Yesterday's price range of $102.85 and $103.38 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 Leidos Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Leidos Holdings, Inc. provides scientific, engineering, systems integration, and technical services and solutions. The Company provides its services in the areas of national security, engineering, and health.

Based on a current price of $103.63, Leidos Holdings is currently 25.8% above its average consensus analyst price target of $76.91. The stock should find initial support at its 50-day moving average (MA) of $94.33 and further support at its 200-day MA of $83.32.

Over the past year, Leidos Holdings has traded in a range of $54.78 to $103.47 and closed yesterday at $103.63, 89% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.5%.

SmarTrend recommended that subscribers consider buying shares of Leidos Holdings on October 29th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $84.73. Since that recommendation, shares of Leidos Holdings have risen 22.0%. We continue to monitor LDOS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle leidos holdings

Ticker(s): LDOS