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Possible Bullish Inside Day Candle Pattern Detected for Wabash National (NYSE:WNC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Wabash National (NYSE:WNC) based on the price action in the company's shares. Today's price range of $13.84 and $13.97 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 Wabash National may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Wabash National (NYSE:WNC) defies analysts with a current price ($13.97) 3.1% above its average consensus price target of $13.53. The stock should find initial support at its 50-day moving average (MA) of $12.84 and further support at its 200-day MA of $12.06.

In the past 52 weeks, shares of Wabash National have traded between a low of $9.68 and a high of $15.21 and are now at $13.97, which is 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has risen 0.3%.

Wabash National Corporation designs, manufactures, and markets standard and customized truck trailers under the Wabash and Fruehauf tradenames. The Company's products include composite and aluminum plate trailers, as well as Road-Railer bimodal vehicles.

SmarTrend recommended that subscribers consider buying shares of Wabash National on February 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.55. Since that recommendation, shares of Wabash National have risen 19.4%. We continue to monitor WNC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle wabash national

Ticker(s): WNC