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Possible Bearish Inside Day Candle Pattern Detected for Wingstop Inc (NASDAQ:WING)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Wingstop Inc (NASDAQ:WING) based on the price action in the company's shares. Yesterday's price range of $79.63 and $80.87 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 Wingstop Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Wingstop Inc (NASDAQ:WING) is currently priced 32.8% above its average consensus analyst price target of $53.75. The stock should find initial resistance at its 50-day moving average (MA) of $82.82 and further resistance at its 200-day MA of $83.74.

Wingstop Inc. owns and operates restaurants. The Company specializes in cooked-to-order, hand-sauced, and tossed chicken wings. Wingstop serves customers worldwide.

In the past 52 weeks, shares of Wingstop Inc have traded between a low of $22.63 and a high of $81.18 and closed yesterday at $80.00, which is 253% above that low price. The 200-day and 50-day moving averages have moved 0.27% higher and 0.85% lower over the past week, respectively.

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

Keywords: bearish am inside day candle wingstop inc

Ticker(s): WING