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Possible Bearish Inside Day Candle Pattern Detected for Stamps.Com Inc (NASDAQ:STMP)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Stamps.Com Inc (NASDAQ:STMP) based on the price action in the company's shares. Yesterday's price range of $198.06 and $216.00 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 Stamps.Com Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Stamps.Com Inc has traded in a range of $32.54 to $204.08 and closed yesterday at $195.24, 500% above that low. Over the past week, the 200-day moving average (MA) has gone up 2.6% while the 50-day MA has advanced 2.9%.

Stamps.Com Inc has overhead space with shares priced $195.24, or 26.7% below the average consensus analyst price target of $266.25. The stock should find initial support at its 50-day moving average (MA) of $139.65 and further support at its 200-day MA of $95.36.

Stamps.com Inc. provides a service for purchasing and printing postage over the Internet. The Company enables users to print information based indicia and electronic stamps directly onto envelopes, labels, and business documents using laser and inkjet printers.

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

Keywords: bearish am inside day candle stamps.com inc

Ticker(s): STMP