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Possible Bullish Inside Day Candle Pattern Detected for Weight Watchers (NYSE:WTW)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Weight Watchers (NYSE:WTW) based on the price action in the company's shares. Today's price range of $11.50 and $11.87 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 Weight Watchers may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Weight Watchers share prices have moved between a 52-week high of $28.05 and a 52-week low of $3.67 and are now trading 214% above that low price at $11.53 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.3% while the 50-day MA has declined 1%.

There is potential upside of 64.8% for shares of Weight Watchers based on a current price of $11.53 and an average consensus analyst price target of $19.00. The stock should find initial resistance at its 200-day moving average (MA) of $13.37 and further resistance at its 50-day MA of $13.91.

Weight Watchers International, Inc., is a provider of weight control programs. The Company operates through a network of company-owned and franchised operations. Members attend weekly Weight Watchers meetings to receive group support and education about healthy eating patterns, behavior modification and physical activity.

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

Keywords: bullish inside day candle weight watchers

Ticker(s): WTW