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

Published on Tue, 04/16/2013 - 07:27
By Adrienne Chilton

Analysts have spotted a possible bearish inside day candle pattern in Ryanair Holdings (NASDAQ:RYAAY) based on the price action in the company's shares. Yesterday's price range of $43.16 and $43.70 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.

There is potential upside of 9.9% for shares of Ryanair Holdings based on a current price of $43.24 and an average consensus analyst price target of $47.50. The stock should find initial support at its 50-day moving average (MA) of $40.83 and further support at its 200-day MA of $34.99.

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 $23.87 and a high of $44.37 and closed yesterday at $43.24, 81% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.6%.

By Adrienne Chilton
achilton@fnno.com

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