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Possible Bearish Inside Day Candle Pattern Detected for Western Union (NYSE:WU)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Western Union (NYSE:WU) based on the price action in the company's shares. Today's price range of $20.25 and $20.46 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 Western Union may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Western Union share prices have been bracketed by a low of $16.02 and a high of $22.84 and are now at $20.38, 27% above that low price. The 200-day and 50-day moving averages have moved 0.03% higher and 0.53% higher over the past week, respectively.

Western Union Company offers money transfer services. The Company offers consumer to consumer money transfer and bill paying services, and sells money orders.

Western Union (NYSE:WU) is currently priced 4.7% above its average consensus analyst price target of $19.42. Western Union shares have support at the 50-day moving average (MA) of $19.37 and additional support at the 200-day MA of $18.76.

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

Keywords: bearish inside day candle Western Union

Ticker(s): WU