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Possible Bearish Inside Day Candle Pattern Detected for Pitney Bowes Inc (NYSE:PBI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Pitney Bowes Inc (NYSE:PBI) based on the price action in the company's shares. Today's price range of $12.91 and $13.25 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 Pitney Bowes Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Pitney Bowes Inc share prices have moved between a 52-week high of $19.33 and a 52-week low of $9.50 and are now trading 36% above that low price at $12.96 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.6%.

Pitney Bowes Inc. sells, finances, rents, and services integrated mail and document management systems. The Company offers a full suite of equipment, supplies software and services for end-to-end mailstream solutions.

There is potential upside of 8.0% for shares of Pitney Bowes Inc based on a current price of $12.96 and an average consensus analyst price target of $14.00. The stock should run into initial resistance at its 200-day moving average (MA) of $20.14 and subsequent resistance at its 50-day MA of $20.55.

SmarTrend recommended that subscribers consider buying shares of Pitney Bowes Inc on December 18th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.18. Since that recommendation, shares of Pitney Bowes Inc have risen 19.6%. We continue to monitor PBI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle pitney bowes inc

Ticker(s): PBI