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Possible Bullish Inside Day Candle Pattern Detected for Exponent Inc (NASDAQ:EXPO)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Exponent Inc (NASDAQ:EXPO) based on the price action in the company's shares. Yesterday's price range of $48.91 and $49.60 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 Exponent Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Exponent, Inc. operates as a science and engineering consulting firm. The Company performs scientific research, analysis, and evaluations to solve complicated issues facing a range of industries and governments. Exponent serves customers worldwide.

In the past 52 weeks, Exponent Inc share prices have been bracketed by a low of $44.44 and a high of $210.50 and closed yesterday at $49.55, 11% above that low price. Over the past week, the 200-day moving average (MA) has gone down 2.2% while the 50-day MA has declined 0.4%.

There is potential upside of 92.7% for shares of Exponent Inc based on a current price of $49.55 and an average consensus analyst price target of $95.50. Exponent Inc shares should first meet resistance at the 50-day moving average (MA) of $50.32 and find additional resistance at the 200-day MA of $75.79.

SmarTrend recommended that its subscribers protect gains by selling shares of Exponent Inc on June 8th, 2018 by issuing a Downtrend alert when the shares were trading at $50.76. Since that call, shares of Exponent Inc have fallen 3.8%. 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 exponent inc

Ticker(s): EXPO