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 $80.00 and $80.73 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.
There is potential upside of 17.2% for shares of Ryanair Holdings based on a current price of $80.68 and an average consensus analyst price target of $94.52. Ryanair Holdings shares should first meet resistance at the 200-day moving average (MA) of $81.07 and find additional resistance at the 50-day MA of $82.83.
In the past 52 weeks, shares of Ryanair Holdings have traded between a low of $59.86 and a high of $89.67 and are now at $80.68, which is 35% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.
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