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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Whirlpool (NYSE:WHR) based on the price action in the company's shares. Today's price range of $194.10 and $195.83 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 Whirlpool may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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

Whirlpool (NYSE:WHR) has potential upside of 2.4% based on a current price of $194.79 and analysts' consensus price target of $199.50. The stock should discover initial support at its 50-day moving average (MA) of $174.79 and subsequent support at its 200-day MA of $160.13.

In the past 52 weeks, shares of Whirlpool have traded between a low of $123.60 and a high of $202.99 and are now at $194.79, which is 58% above that low price. The 200-day and 50-day moving averages have moved 0.12% higher and 1.31% higher over the past week, respectively.

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

Keywords: bearish inside day candle Whirlpool

Ticker(s): WHR