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Possible Bearish Inside Day Candle Pattern Detected for Wash Fed (NASDAQ:WAFD)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Wash Fed (NASDAQ:WAFD) based on the price action in the company's shares. Yesterday's price range of $32.02 and $32.56 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 Wash Fed 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, Wash Fed has traded in a range of $24.67 to $35.25 and closed yesterday at $32.47, 32% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.

Washington Federal, Inc. is a bank holding company. The Company's principal activities consists of taking deposits from the public and investing these funds in loans of various types, including first lien mortgages on single-family dwellings, construction loans, land acquisition and development loans, and loans on multi-family and other income producing properties.

Wash Fed (NASDAQ:WAFD) has potential upside of 10.9% based on a current price of $32.47 and analysts' consensus price target of $36.00. Wash Fed shares have support at the 50-day moving average (MA) of $31.77 and additional support at the 200-day MA of $30.23.

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

Keywords: bearish am inside day candle wash fed

Ticker(s): WAFD