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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Xpo Logistics In (NYSE:XPO) based on the price action in the company's shares. Today's price range of $66.54 and $66.54 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 In may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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.

In the past 52 weeks, Xpo Logistics In share prices have been bracketed by a low of $41.05 and a high of $116.27 and are now at $66.54, 62% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.5%.

Xpo Logistics In has overhead space with shares priced $66.54, or 39.1% below the average consensus analyst price target of $109.25. The stock should hit resistance at its 200-day moving average (MA) of $78.86, as well as support at its 50-day MA of $54.47.

SmarTrend is tracking the current trend status for Xpo Logistics In and will alert subscribers who have XPO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle xpo logistics in

Ticker(s): XPO