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Possible Bullish Inside Day Candle Pattern Detected for Waterstone Finan (NASDAQ:WSBF)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Waterstone Finan (NASDAQ:WSBF) based on the price action in the company's shares. Yesterday's price range of $15.63 and $15.84 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 Waterstone Finan may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Waterstone Finan have traded between a low of $15.20 and a high of $18.10 and closed yesterday at $15.73, which is 3% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.4%.

Waterstone Financial Inc. is a bank holding company. The Company, through its banking subsidiary, offers checking and saving accounts, personal and business loans, and retirement planning services.

Potential upside of 17.6% exists for Waterstone Finan, based on a current level of $15.73 and analysts' average consensus price target of $18.50. Waterstone Finan shares should first meet resistance at the 50-day moving average (MA) of $16.57 and find additional resistance at the 200-day MA of $16.84.

SmarTrend recommended that its subscribers protect gains by selling shares of Waterstone Finan on November 8th, 2017 by issuing a Downtrend alert when the shares were trading at $18.17. Since that call, shares of Waterstone Finan have fallen 14.2%. 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 waterstone finan

Ticker(s): WSBF