Possible Bearish Inside Day Candle Pattern Detected for Ryanair Holdings (NASDAQ:RYAAY)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ryanair Holdings (NASDAQ:RYAAY) based on the price action in the company's shares. Today's price range of $86.40 and $87.17 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 Ryanair Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
Ryanair Holdings PLC provides low fare passenger airline services to destinations in Europe.
In the past 52 weeks, Ryanair Holdings share prices have been bracketed by a low of $59.86 and a high of $88.24 and are now at $86.89, 45% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.
Potential upside of 8.8% exists for Ryanair Holdings, based on a current level of $86.89 and analysts' average consensus price target of $94.52. Ryanair Holdings shares have support at the 50-day moving average (MA) of $82.83 and additional support at the 200-day MA of $81.07.
SmarTrend is monitoring the recent change of momentum in Ryanair Holdings. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ryanair Holdings in search of a potential trend change.
Keywords: bearish inside day candle ryanair holdings