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Possible Bearish Inside Day Candle Pattern Detected for Stamps.Com Inc (NASDAQ:STMP)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Stamps.Com Inc (NASDAQ:STMP) based on the price action in the company's shares. Yesterday's price range of $156.21 and $172.88 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 Stamps.Com Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 58.6% for shares of Stamps.Com Inc based on a current price of $167.84 and an average consensus analyst price target of $266.25. The stock should find initial support at its 50-day moving average (MA) of $88.46 and further support at its 200-day MA of $68.80.

Stamps.com Inc. provides a service for purchasing and printing postage over the Internet. The Company enables users to print information based indicia and electronic stamps directly onto envelopes, labels, and business documents using laser and inkjet printers.

In the past 52 weeks, shares of Stamps.Com Inc have traded between a low of $32.54 and a high of $207.25 and closed yesterday at $167.84, which is 416% above that low price. The 200-day and 50-day moving averages have moved 1.81% higher and 5.96% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Stamps.Com Inc and will alert subscribers who have STMP in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle stamps.com inc

Ticker(s): STMP