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Possible Bullish Inside Day Candle Pattern Detected for Expeditors Intl (NASDAQ:EXPD)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Expeditors Intl (NASDAQ:EXPD) based on the price action in the company's shares. Yesterday's price range of $76.08 and $76.37 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 Expeditors Intl may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Expeditors International of Washington, Inc. is a global logistics company. The Company provides air and ocean freight forwarding, vendor consolidation, customs clearance, marine insurance, distribution, and other international logistics services.

Expeditors Intl share prices have moved between a 52-week high of $81.15 and a 52-week low of $62.90 and closed yesterday at 22% above that low price at $76.56 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Based on a current price of $76.56, Expeditors Intl is currently 9.8% above its average consensus analyst price target of $69.08. The stock should discover initial support at its 50-day moving average (MA) of $75.78 and subsequent support at its 200-day MA of $74.60.

SmarTrend recommended that subscribers consider buying shares of Expeditors Intl on October 11th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $74.19. Since that recommendation, shares of Expeditors Intl have risen 3.6%. We continue to monitor EXPD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle expeditors intl

Ticker(s): EXPD