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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 $178.45 and $180.56 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 has overhead space with shares priced $178.51, or 5.1% below the average consensus analyst price target of $188.12. 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.

Over the past year, Whirlpool has traded in a range of $123.60 to $193.59 and is now at $178.51, 44% above that low. The 200-day and 50-day moving averages have moved 0.12% higher and 1.31% higher over the past week, respectively.

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

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