Possible Bearish Inside Day Candle Pattern Detected for Ryanair Holdings (NASDAQ:RYAAY)

Published on Tue, 06/16/2015 - 07:41
By Peter Chu in Candlestick, RYAAY, bearish am inside day candle, nasdaq:ryaay, ryanair holdings

Analyzing the price chart for Ryanair Holdings (NASDAQ:RYAAY) has revealed a potential bearish inside day candle pattern. Yesterday's price range of $70.20 and $70.83 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 Ryanair Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Ryanair Holdings PLC provides low fare passenger airline services to destinations in Europe.

In the past 52 weeks, Ryanair Holdings share prices have been bracketed by a low of $40.32 and a high of $71.79 and closed yesterday at $70.60, 75% above that low price. The 200-day and 50-day moving averages have moved 0.39% higher and 0.43% higher over the past week, respectively.

Ryanair Holdings (NASDAQ:RYAAY) has potential upside of 17.0% based on a current price of $70.60 and analysts' consensus price target of $82.60. The stock should find initial support at its 50-day moving average (MA) of $66.90 and further support at its 200-day MA of $63.24.

By Peter Chu
pchu@fnno.com

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