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Possible Bearish Inside Day Candle Pattern Detected for Pitney Bowes Inc (NYSE:PBI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Pitney Bowes Inc (NYSE:PBI) based on the price action in the company's shares. Yesterday's price range of $3.27 and $3.47 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 Pitney Bowes Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Pitney Bowes Inc. sells, finances, rents, and services integrated mail and document management systems. The Company offers a full suite of equipment, supplies software and services for end-to-end mailstream solutions.

Pitney Bowes Inc (NYSE:PBI) has potential upside of 270.6% based on a current price of $3.44 and analysts' consensus price target of $12.75. Pitney Bowes Inc shares should encounter resistance at the 200-day moving average (MA) of $3.81 and support at the 50-day MA of $2.60.

In the past 52 weeks, shares of Pitney Bowes Inc have traded between a low of $1.67 and a high of $7.23 and closed yesterday at $3.44, which is 106% above that low price. The 200-day and 50-day moving averages have moved 0.68% lower and 2.63% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Pitney Bowes Inc and will alert subscribers who have PBI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle pitney bowes inc

Ticker(s): PBI