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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 $64.10 and $64.22 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 In has overhead space with shares priced $64.10, or 41.3% below the average consensus analyst price target of $109.25. The stock should find resistance at its 200-day moving average (MA) of $77.13, as well as support at its 50-day MA of $56.58.

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 $64.10, 56% above that low price. The 200-day and 50-day moving averages have moved 0.69% lower and 1.17% higher over the past week, respectively.

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 subscribers consider buying shares of Xpo Logistics In on April 1st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $55.07. Since that recommendation, shares of Xpo Logistics In have risen 18.9%. We continue to monitor XPO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle xpo logistics in

Ticker(s): XPO