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

By Nick Russo

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. Yesterday's price range of $50.69 and $51.51 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 XPO Logistics may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, XPO Logistics has traded in a range of $18.04 to $54.70 and closed yesterday at $50.99, 183% above that low. Over the last five market days, 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.

XPO Logistics (NYSE:XPO) is currently priced 8.9% above its average consensus analyst price target of $46.44. The stock should discover initial support at its 200-day moving average (MA) of $29.71 and subsequent support at its 50-day MA of $29.45.

SmarTrend recommended that subscribers consider buying shares of XPO Logistics on February 13th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.82. Since that recommendation, shares of XPO Logistics have risen 7.7%. We continue to monitor XPO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle xpo logistics

Ticker(s): XPO