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

By David Diaz

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 $12.80 and $12.93 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 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.

Over the past year, Wabash National has traded in a range of $9.68 to $15.21 and is now at $12.92, 33% above that low. The 200-day and 50-day moving averages have moved 0.28% higher and 1.36% higher over the past week, respectively.

There is potential upside of 4.7% for shares of Wabash National based on a current price of $12.92 and an average consensus analyst price target of $13.53. The stock should discover initial support at its 50-day moving average (MA) of $12.84 and subsequent support at its 200-day MA of $12.06.

SmarTrend is monitoring the recent change of momentum in Wabash National. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Wabash National in search of a potential trend change.

Keywords: bullish inside day candle wabash national

Ticker(s): WNC