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Possible Bearish Inside Day Candle Pattern Detected for Cimpress Nv (NASDAQ:CMPR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cimpress Nv (NASDAQ:CMPR) based on the price action in the company's shares. Yesterday's price range of $69.93 and $73.99 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. Owners of Cimpress Nv may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Cimpress NV operates as an online supplier of graphic design and customized printed products to businesses and consumers worldwide. The Company offers products such as customized apparel, marketing materials for businesses, and personalized photo products.

Cimpress Nv has overhead space with shares priced $72.79, or 47.9% below the average consensus analyst price target of $139.67. The stock should find initial resistance at its 50-day moving average (MA) of $73.92 and further resistance at its 200-day MA of $108.24.

Cimpress Nv share prices have moved between a 52-week high of $145.09 and a 52-week low of $40.80 and closed yesterday at 78% above that low price at $72.79 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 5%.

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

Keywords: bearish am inside day candle cimpress nv

Ticker(s): CMPR