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. Yesterday's price range of $78.39 and $79.83 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.
In the past 52 weeks, shares of Ryanair Holdings have traded between a low of $59.86 and a high of $88.24 and closed yesterday at $79.29, which is 32% 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%.
Ryanair Holdings PLC provides low fare passenger airline services to destinations in Europe.
Ryanair Holdings has overhead space with shares priced $79.29, or 16.1% 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.
SmarTrend is tracking the current trend status for Ryanair Holdings and will alert subscribers who have RYAAY in their portfolio or watchlist when shares have changed trend direction.
Keywords: bearish am inside day candle ryanair holdings