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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. Yesterday's price range of $46.80 and $47.37 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.

XPO Logistics (NYSE:XPO) has potential upside of 22.2% based on a current price of $47.19 and analysts' consensus price target of $57.69. XPO Logistics shares have support at the 200-day moving average (MA) of $29.71 and additional support at the 50-day MA of $29.45.

XPO Logistics share prices have moved between a 52-week high of $54.70 and a 52-week low of $18.04 and closed yesterday at 162% above that low price at $47.19 per share. 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.

SmarTrend is monitoring the recent change of momentum in XPO Logistics. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of XPO Logistics in search of a potential trend change.

Keywords: bearish am inside day candle xpo logistics

Ticker(s): XPO