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Possible Bearish Inside Day Candle Pattern Detected for Wabco Holdings (NYSE:WBC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Wabco Holdings (NYSE:WBC) based on the price action in the company's shares. Yesterday's price range of $134.82 and $135.01 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 Wabco Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Wabco Holdings has overhead space with shares priced $134.93, or 16.2% below the average consensus analyst price target of $161.07. The stock should discover initial support at its 50-day moving average (MA) of $134.55 and subsequent support at its 200-day MA of $132.90.

WABCO Holdings Inc., manufactures electronic braking, stability, suspension, and transmission control systems commercial vehicles.

In the past 52 weeks, Wabco Holdings share prices have been bracketed by a low of $98.90 and a high of $146.68 and closed yesterday at $134.93, 36% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

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

Keywords: bearish am inside day candle wabco holdings

Ticker(s): WBC