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

By Amy Schwartz

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 $26.41 and $27.03 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 share prices have moved between a 52-week high of $50.96 and a 52-week low of $18.04 and closed yesterday at 48% above that low price at $26.72 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 1.2%.

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) has potential upside of 73.8% based on a current price of $26.72 and analysts' 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.

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 am inside day candle xpo logistics

Ticker(s): XPO