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Possible Bearish Inside Day Candle Pattern Detected for Genesee & Wyomin (NYSE:GWR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Genesee & Wyomin (NYSE:GWR) based on the price action in the company's shares. Yesterday's price range of $85.84 and $85.84 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 Genesee & Wyomin may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Genesee & Wyoming Inc., through its subsidiaries, owns and operates short line and regional freight railroads and provides related rail services. The Company also provides railroad switching and related services to United States industries with extensive railroad facilities within their complexes. Genessee operates in the United States and Australia.

Over the past year, Genesee & Wyomin has traded in a range of $67.61 to $92.91 and closed yesterday at $85.86, 27% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.

Based on a current price of $85.86, Genesee & Wyomin is currently 7.3% above its average consensus analyst price target of $79.62. Genesee & Wyomin shares have support at the 200-day moving average (MA) of $82.32 and additional support at the 50-day MA of $80.80.

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

Keywords: bearish am inside day candle genesee & wyomin

Ticker(s): GWR