• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Wash Fed (NASDAQ:WAFD)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Wash Fed (NASDAQ:WAFD) based on the price action in the company's shares. Yesterday's price range of $29.91 and $30.19 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 Wash Fed may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Wash Fed share prices have moved between a 52-week high of $37.70 and a 52-week low of $24.67 and closed yesterday at 22% above that low price at $30.08 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.1%.

Wash Fed (NASDAQ:WAFD) has potential upside of 19.7% based on a current price of $30.08 and analysts' consensus price target of $36.00. The stock should find resistance at its 200-day moving average (MA) of $30.80, as well as support at its 50-day MA of $29.45.

Washington Federal, Inc. is a bank holding company. The Company's principal activities consists of taking deposits from the public and investing these funds in loans of various types, including first lien mortgages on single-family dwellings, construction loans, land acquisition and development loans, and loans on multi-family and other income producing properties.

SmarTrend recommended that subscribers consider buying shares of Wash Fed on January 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.43. Since that recommendation, shares of Wash Fed have risen 8.8%. We continue to monitor WAFD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle wash fed

Ticker(s): WAFD