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Possible Bearish Inside Day Candle Pattern Detected for Wayfair Inc- A (NYSE:W)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Wayfair Inc- A (NYSE:W) based on the price action in the company's shares. Today's price range of $148.20 and $148.20 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 Wayfair Inc- A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Wayfair, Inc. retails household goods online. The Company offers bedroom, living room, kitchen and dining, home entertainment, home office, game room and bar, patio, hallway and entryway, and bathroom furniture. Wayfair offers products and services in the United States.

Based on a current price of $148.20, Wayfair Inc- A is currently 42.6% above its average consensus analyst price target of $85.05. The stock should hit resistance at its 50-day moving average (MA) of $154.19, as well as support at its 200-day MA of $125.89.

Wayfair Inc- A share prices have moved between a 52-week high of $173.72 and a 52-week low of $76.60 and are now trading 93% above that low price at $148.20 per share. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has declined 1.4%.

SmarTrend is tracking the current trend status for Wayfair Inc- A and will alert subscribers who have W in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle wayfair inc- a

Ticker(s): W