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

By Nick Russo

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 $36.00 and $36.46 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.

Over the past year, Westrock Co has traded in a range of $31.94 to $50.75 and closed yesterday at $36.03, 13% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

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.

Potential upside of 103.2% exists for Westrock Co, based on a current level of $36.03 and analysts' average consensus price target of $73.23. The stock should find resistance at its 200-day moving average (MA) of $37.05, as well as support at its 50-day MA of $34.99.

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

Keywords: bearish am inside day candle westrock co

Ticker(s): WRK