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

By David Diaz

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 $60.85 and $61.95 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.

There is potential upside of 79.3% for shares of Xpo Logistics In based on a current price of $60.92 and an average consensus analyst price target of $109.25. The stock should hit resistance at its 200-day moving average (MA) of $64.99, as well as support at its 50-day MA of $56.45.

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 $60.92, 48% above that low price. The 200-day and 50-day moving averages have moved 1.21% lower and 0.57% lower over the past week, respectively.

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

Keywords: bearish inside day candle xpo logistics in

Ticker(s): XPO