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Possible Bearish Inside Day Candle Pattern Detected for Cdw Corp/De (NASDAQ:CDW)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cdw Corp/De (NASDAQ:CDW) based on the price action in the company's shares. Yesterday's price range of $88.02 and $90.90 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 Cdw Corp/De 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, Cdw Corp/De has traded in a range of $66.88 to $96.75 and closed yesterday at $90.31, 35% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has remained constant.

CDW Corporation of Delaware provides information technology products and services. The Company offers hardware, software, computer peripherals, cloud computing, mobile devices, network communication, and security solutions. CDW serves business, government, education, and healthcare customers throughout North America.

Cdw Corp/De (NASDAQ:CDW) is currently priced 6.0% above its average consensus analyst price target of $84.90. The stock should find initial support at its 50-day moving average (MA) of $84.28 and further support at its 200-day MA of $84.24.

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

Keywords: bearish am inside day candle cdw corp/de

Ticker(s): CDW