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Possible Bearish Inside Day Candle Pattern Detected for XPO Logistics (NYSE:XPO)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in XPO Logistics (NYSE:XPO) based on the price action in the company's shares. Today's price range of $26.47 and $26.95 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 XPO Logistics may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 75.2% exists for XPO Logistics, based on a current level of $26.50 and analysts' average consensus price target of $46.44. The stock should find initial resistance at its 50-day moving average (MA) of $29.45 and further resistance at its 200-day MA of $29.71.

In the past 52 weeks, shares of XPO Logistics have traded between a low of $18.04 and a high of $50.96 and are now at $26.50, which is 47% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 0.5%.

XPO Logistics, Inc. provides logistics services. The Company offers expedited airfreight forwarding, ground and ocean movement, warehousing management, order fulfillment, and reverse logistics. XPO Logistics serves customers throughout North America.

SmarTrend recommended that its subscribers protect gains by selling shares of XPO Logistics on May 4th, 2016 by issuing a Downtrend alert when the shares were trading at $29.51. Since that call, shares of XPO Logistics have fallen 8.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle xpo logistics

Ticker(s): XPO