• Return to Headlines

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 $109.43 and $109.72 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.

Based on a current price of $109.60, Genesee & Wyomin is currently 27.4% above its average consensus analyst price target of $79.62. Genesee & Wyomin shares have support at the 50-day moving average (MA) of $97.94 and additional support at the 200-day MA of $85.92.

In the past 52 weeks, Genesee & Wyomin share prices have been bracketed by a low of $68.27 and a high of $110.72 and closed yesterday at $109.60, 61% above that low price. The 200-day and 50-day moving averages have moved 0.54% higher and 2.26% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Genesee & Wyomin on March 29th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $87.18. Since that recommendation, shares of Genesee & Wyomin have risen 25.7%. We continue to monitor GWR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle genesee & wyomin

Ticker(s): GWR