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Possible Bearish Inside Day Candle Pattern Detected for Atlas Air Worldw (NASDAQ:AAWW)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Atlas Air Worldw (NASDAQ:AAWW) based on the price action in the company's shares. Yesterday's price range of $55.64 and $56.92 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 Atlas Air Worldw may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Atlas Air Worldw have traded between a low of $48.19 and a high of $75.29 and closed yesterday at $56.17, which is 17% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.9% while the 200-day MA has slid 0.2%.

There is potential upside of 40.2% for shares of Atlas Air Worldw based on a current price of $56.17 and an average consensus analyst price target of $78.75. The stock should find initial resistance at its 50-day moving average (MA) of $58.14 and further resistance at its 200-day MA of $62.88.

Atlas Air Worldwide Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, provides aircraft, crew, commercial and military charter, maintenance, and insurance freighter aircraft to major airlines around the world.

SmarTrend is monitoring the recent change of momentum in Atlas Air Worldw. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Atlas Air Worldw in search of a potential trend change.

Keywords: bearish am inside day candle atlas air worldw

Ticker(s): AAWW