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Possible Bearish Inside Day Candle Pattern Detected for Vmware Inc-Cl A (NYSE:VMW)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Vmware Inc-Cl A (NYSE:VMW) based on the price action in the company's shares. Today's price range of $148.86 and $150.58 is within yesterday'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 Vmware Inc-Cl A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Vmware Inc-Cl A share prices have moved between a 52-week high of $165.00 and a 52-week low of $85.70 and are now trading 74% above that low price at $149.03 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.5%.

VMware, Inc. provides virtualization solutions from the desktop to the data center. The Company's solution products addresses a range of IT problems, which includes cost and operational inefficiencies, business continuity, software lifecycle management, and desktop management.

Vmware Inc-Cl A (NYSE:VMW) is currently priced 6.5% above its average consensus analyst price target of $139.30. The stock should find initial support at its 50-day moving average (MA) of $137.78 and further support at its 200-day MA of $125.10.

SmarTrend recommended that subscribers consider buying shares of Vmware Inc-Cl A on February 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $123.24. Since that recommendation, shares of Vmware Inc-Cl A have risen 22.9%. We continue to monitor VMW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle vmware inc-cl a

Ticker(s): VMW