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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 $175.56 and $175.73 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.

Over the past year, Vmware Inc-Cl A has traded in a range of $129.33 to $206.41 and is now at $175.58, 36% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.6%.

Vmware Inc-Cl A (NYSE:VMW) is currently priced 20.7% above its average consensus analyst price target of $139.30. The stock should hit resistance at its 50-day moving average (MA) of $189.56, as well as support at its 200-day MA of $165.79.

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.

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 inside day candle vmware inc-cl a

Ticker(s): VMW