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Possible Bullish Inside Day Candle Pattern Detected for Atlas Air Worldw (NASDAQ:AAWW)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Atlas Air Worldw (NASDAQ:AAWW) based on the price action in the company's shares. Yesterday's price range of $21.35 and $21.96 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. Traders and investors interested in shares of Atlas Air Worldw may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Atlas Air Worldw has traded in a range of $20.61 to $60.72 and closed yesterday at $21.85, 6% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 1.2%.

There is potential upside of 260.4% for shares of Atlas Air Worldw based on a current price of $21.85 and an average consensus analyst price target of $78.75. The stock should find initial resistance at its 50-day moving average (MA) of $24.83 and further resistance at its 200-day MA of $40.21.

Atlas Air Worldwide Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, provides aircraft, crew, commercial and military charter, maintenance, and insurance freighter aircraft to major airlines around the world.

SmarTrend is tracking the current trend status for Atlas Air Worldw and will alert subscribers who have AAWW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle atlas air worldw

Ticker(s): AAWW