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

By Shiri Gupta

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 $107.68 and $109.83 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 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 $162.20 and closed yesterday at $110.06, 11% above that low price. The 200-day and 50-day moving averages have moved 0.52% lower and 0.48% higher over the past week, respectively.

Wabco Holdings (NYSE:WBC) has potential upside of 46.3% based on a current price of $110.06 and analysts' consensus price target of $161.07. The stock should run into initial resistance at its 50-day moving average (MA) of $110.64 and subsequent resistance at its 200-day MA of $119.29.

SmarTrend is monitoring the recent change of momentum in Wabco Holdings. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Wabco Holdings in search of a potential trend change.

Keywords: bearish am inside day candle wabco holdings

Ticker(s): WBC