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Possible Bearish Inside Day Candle Pattern Detected for Leidos Holdings (NYSE:LDOS)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Leidos Holdings (NYSE:LDOS) based on the price action in the company's shares. Yesterday's price range of $97.53 and $99.00 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 Leidos Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Leidos Holdings share prices have moved between a 52-week high of $125.84 and a 52-week low of $64.69 and closed yesterday at 52% above that low price at $98.60 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has risen 0.3%.

Leidos Holdings (NYSE:LDOS) is currently priced 22.0% above its average consensus analyst price target of $76.91. The stock should discover initial support at its 50-day moving average (MA) of $98.24 and subsequent support at its 200-day MA of $91.14.

Leidos Holdings, Inc. provides scientific, engineering, systems integration, and technical services and solutions. The Company provides its services in the areas of national security, engineering, and health.

SmarTrend is tracking the current trend status for Leidos Holdings and will alert subscribers who have LDOS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle leidos holdings

Ticker(s): LDOS