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Possible Bearish Inside Day Candle Pattern Detected for Whirlpool Corp (NYSE:WHR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Whirlpool Corp (NYSE:WHR) based on the price action in the company's shares. Yesterday's price range of $122.69 and $125.28 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 Whirlpool Corp 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, Whirlpool Corp has traded in a range of $99.40 to $156.75 and closed yesterday at $125.59, 26% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.

Whirlpool Corporation manufactures and markets major home appliances. The Company's principal products include laundry appliances, refrigeration, room air conditioning equipment, cooking appliances, dishwashers, and mixers and other small household appliances. Whirlpool products are sold worldwide

Potential upside of 43.6% exists for Whirlpool Corp, based on a current level of $125.59 and analysts' average consensus price target of $180.38. Whirlpool Corp shares should encounter resistance at the 50-day moving average (MA) of $133.03 and support at its 200-day MA of $125.40.

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

Keywords: bearish am inside day candle whirlpool corp

Ticker(s): WHR