• Return to Headlines

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

By Nick Russo

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 $96.54 and $96.88 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.

Cdw Corp/De (NASDAQ:CDW) defies analysts with a current price ($96.62) 12.1% above its average consensus price target of $84.90. The stock should discover initial support at its 50-day moving average (MA) of $87.65 and subsequent support at its 200-day MA of $86.26.

Cdw Corp/De share prices have moved between a 52-week high of $97.14 and a 52-week low of $67.44 and closed yesterday at 43% above that low price at $96.62 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has risen 0.4%.

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.

SmarTrend recommended that subscribers consider buying shares of Cdw Corp/De on January 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $86.67. Since that recommendation, shares of Cdw Corp/De have risen 11.9%. We continue to monitor CDW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle cdw corp/de

Ticker(s): CDW