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Possible Bearish Inside Day Candle Pattern Detected for Wabash National (NYSE:WNC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Wabash National (NYSE:WNC) based on the price action in the company's shares. Yesterday's price range of $14.68 and $14.91 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 Wabash National may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Wabash National has overhead space with shares priced $14.70, or 41.7% below the average consensus analyst price target of $25.20. The stock should hit resistance at its 50-day moving average (MA) of $14.87, as well as support at its 200-day MA of $14.47.

Wabash National share prices have moved between a 52-week high of $19.43 and a 52-week low of $12.25 and closed yesterday at 20% above that low price at $14.70 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.1%.

Wabash National Corporation designs, manufactures, and supplies trailers. The Company offers dry freight and refrigerated vans, flatbed, drop deck, dump trailers, truck bodies, and stainless steel vessels. Wabash National serves customers in North America.

SmarTrend is tracking the current trend status for Wabash National and will alert subscribers who have WNC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle wabash national

Ticker(s): WNC