• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Express Scripts (NASDAQ:ESRX)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Express Scripts (NASDAQ:ESRX) based on the price action in the company's shares. Yesterday's price range of $72.07 and $73.71 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 Express Scripts may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Express Scripts Holding Company is a full service pharmacy benefit management and specialty managed care company serving clients throughout North America. The Company's customers include managed care organizations, insurance carriers, third party administrators, employers, and union-sponsored benefit plans.

Express Scripts (NASDAQ:ESRX) is currently priced 4.1% above its average consensus analyst price target of $69.93. Express Scripts shares should encounter resistance at the 200-day moving average (MA) of $79.88 and support at the 50-day MA of $70.71.

Over the past year, Express Scripts has traded in a range of $55.80 to $83.49 and closed yesterday at $72.89, 31% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.5%.

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

Keywords: bullish am inside day candle Express Scripts

Ticker(s): ESRX