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Possible Bearish Inside Day Candle Pattern Detected for Ryanair Holdings (NASDAQ:RYAAY)

By Amy Schwartz

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. Yesterday's price range of $80.00 and $81.40 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 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 has overhead space with shares priced $80.85, or 14.5% below the 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.

Ryanair Holdings share prices have moved between a 52-week high of $89.67 and a 52-week low of $59.86 and closed yesterday at 35% above that low price at $80.85 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

Ryanair Holdings PLC provides low fare passenger airline services to destinations in Europe.

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 am inside day candle ryanair holdings

Ticker(s): RYAAY