A Bearish Engulging and Failed Gap Define Downtrend for Expeditors
Even though the market has been moving higher since mid December, Expeditors has been under pressure and shown relative weakness. It all started with a bearish engulfing in early December. The stock gapped up on the first trading day of 2011, but failed to hold the gap and declined the last six days (red candlesticks). The trend is down with channel resistance at 55.

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