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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Atlas Air Worldwide Holdings (NASDAQ:AAWW) based on the price action in the company's shares. Today's price range of $36.29 and $37.99 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. Traders and investors interested in shares of Atlas Air Worldwide Holdings 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 Worldwide Holdings has traded in a range of $31.99 to $59.47 and is now at $36.44, 14% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.1%.

Atlas Air Worldwide Holdings, Inc. is the parent company of Atlas Air, Inc., and Polar Air Cargo, Inc. Atlas provides aircraft, crew, maintenance, and insurance freighter aircraft to major airlines around the world. Polar operates a global, scheduled-service network and serves substantially all major trade lanes of the world. The Company also provides commercial and military charter services.

Atlas Air Worldwide Holdings (NASDAQ:AAWW) has potential upside of 48.5% based on a current price of $36.44 and analysts' consensus price target of $54.10. Atlas Air Worldwide Holdings shares should first meet resistance at the 200-day moving average (MA) of $40.00 and find additional resistance at the 50-day MA of $40.05.

SmarTrend recommended that its subscribers protect gains by selling shares of Atlas Air Worldwide Holdings on June 27th, 2016 by issuing a Downtrend alert when the shares were trading at $38.83. Since that call, shares of Atlas Air Worldwide Holdings have fallen 7.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle atlas air worldwide holdings

Ticker(s): AAWW