• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Wabtec Corp (NYSE:WAB)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Wabtec Corp (NYSE:WAB) based on the price action in the company's shares. Today's price range of $77.62 and $77.65 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 Wabtec Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide.

Wabtec Corp share prices have moved between a 52-week high of $115.40 and a 52-week low of $65.09 and are now trading 19% above that low price at $77.65 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.4%.

Wabtec Corp has overhead space with shares priced $77.65, or 20.8% below the average consensus analyst price target of $98.08. The stock should hit resistance at its 200-day moving average (MA) of $88.33, as well as support at its 50-day MA of $73.43.

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

Keywords: bearish inside day candle wabtec corp

Ticker(s): WAB