Possible Bullish Inside Day Candle Pattern Detected for Copa Holdings (NYSE:CPA)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Copa Holdings (NYSE:CPA) based on the price action in the company's shares. Yesterday's price range of $49.69 and $52.04 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. Traders and investors interested in shares of Copa Holdings may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Copa Holdings SA provides international airline passenger and cargo service. The Company provides scheduled flights to countries in North, Central and South America and the Caribbean. The Company also has codeshare arrangements with Continental Airlines.
Copa Holdings (NYSE:CPA) has potential upside of 21.0% based on a current price of $50.42 and analysts' consensus price target of $61.00. The stock should run into initial resistance at its 200-day moving average (MA) of $56.35 and subsequent resistance at its 50-day MA of $65.44.
In the past 52 weeks, shares of Copa Holdings have traded between a low of $39.03 and a high of $110.99 and closed yesterday at $50.42, which is 29% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.5%.
SmarTrend recommended that its subscribers protect gains by selling shares of Copa Holdings on May 6th, 2016 by issuing a Downtrend alert when the shares were trading at $54.04. Since that call, shares of Copa Holdings have fallen 8.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: bullish am inside day candle copa holdings