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Possible Bullish Inside Day Candle Pattern Detected for Genesee & Wyomin (NYSE:GWR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Genesee & Wyomin (NYSE:GWR) based on the price action in the company's shares. Yesterday's price range of $70.96 and $72.23 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 Genesee & Wyomin may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Genesee & Wyoming Inc., through its subsidiaries, owns and operates short line and regional freight railroads and provides related rail services. The Company also provides railroad switching and related services to United States industries with extensive railroad facilities within their complexes. Genessee operates in the United States and Australia.

Over the past year, Genesee & Wyomin has traded in a range of $52.20 to $84.40 and closed yesterday at $71.29, 37% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 0.3%.

Potential upside of 10.5% exists for Genesee & Wyomin, based on a current level of $71.29 and analysts' average consensus price target of $78.75. Genesee & Wyomin shares have support at the 50-day moving average (MA) of $61.83 and additional support at the 200-day MA of $61.79.

SmarTrend recommended that its subscribers protect gains by selling shares of Genesee & Wyomin on January 30th, 2018 by issuing a Downtrend alert when the shares were trading at $79.72. Since that call, shares of Genesee & Wyomin have fallen 11.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle genesee & wyomin

Ticker(s): GWR