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Possible Bullish Inside Day Candle Pattern Detected for XPO Logistics (NYSE:XPO)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in XPO Logistics (NYSE:XPO) based on the price action in the company's shares. Today's price range of $52.74 and $53.23 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. Traders and investors interested in shares of XPO Logistics may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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.

XPO Logistics has overhead space with shares priced $53.07, or 8.0% below the average consensus analyst price target of $57.69. The stock should discover initial support at its 200-day moving average (MA) of $29.71 and subsequent support at its 50-day MA of $29.45.

In the past 52 weeks, XPO Logistics share prices have been bracketed by a low of $18.04 and a high of $55.66 and are now at $53.07, 194% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of XPO Logistics on April 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $49.58. Since that recommendation, shares of XPO Logistics have risen 6.1%. We continue to monitor XPO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle xpo logistics

Ticker(s): XPO