Possible Bearish Inside Day Candle Pattern Detected for Wolverine World Wide (NYSE:WWW)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Wolverine World Wide (NYSE:WWW) based on the price action in the company's shares. Today's price range of $19.38 and $19.61 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 Wolverine World Wide may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
Wolverine World Wide has overhead space with shares priced $19.45, or 11.6% below the average consensus analyst price target of $22.00. The stock should find resistance at its 200-day moving average (MA) of $20.30, as well as support at its 50-day MA of $18.58.
Wolverine World Wide share prices have moved between a 52-week high of $30.93 and a 52-week low of $14.74 and are now trading 32% above that low price at $19.45 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.9%.
Wolverine World Wide, Inc. manufactures and markets branded footwear and performance leathers. The Company's products include shoes, slippers, occupational and safety footwear, and performance outdoor footwear, among others.
SmarTrend is monitoring the recent change of momentum in Wolverine World Wide. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Wolverine World Wide in search of a potential trend change.
Keywords: bearish inside day candle wolverine world wide