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

By James Quinn

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. Yesterday's price range of $159.22 and $161.18 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 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. 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.

In the past 52 weeks, Vmware Inc-Cl A share prices have been bracketed by a low of $128.69 and a high of $206.41 and closed yesterday at $160.36, 25% above that low price. The 200-day and 50-day moving averages have moved 0.24% lower and 0.29% higher over the past week, respectively.

Vmware Inc-Cl A (NYSE:VMW) defies analysts with a current price ($160.36) 13.1% above its average consensus price target of $139.30. Vmware Inc-Cl A shares should encounter resistance at the 200-day moving average (MA) of $162.63 and support at the 50-day MA of $152.12.

SmarTrend is tracking the current trend status for Vmware Inc-Cl A and will alert subscribers who have VMW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle vmware inc-cl a

Ticker(s): VMW