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Possible Bearish Inside Day Candle Pattern Detected for Westrock Co (NYSE:WRK)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Westrock Co (NYSE:WRK) based on the price action in the company's shares. Yesterday's price range of $38.02 and $39.00 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 Westrock Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Westrock Co share prices have moved between a 52-week high of $57.23 and a 52-week low of $31.94 and closed yesterday at 20% above that low price at $38.44 per share. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.2%.

Westrock Co (NYSE:WRK) has potential upside of 90.5% based on a current price of $38.44 and analysts' consensus price target of $73.23. Westrock Co shares have support at the 200-day moving average (MA) of $38.08 and additional support at the 50-day MA of $35.32.

WestRock Company provides consumer and corrugated packaging solutions. The Company offers merchandising displays, paperboard, recycling, and waste solutions. WestRock conducts business in the United States.

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

Keywords: bearish am inside day candle westrock co

Ticker(s): WRK