Possible Bullish Inside Day Candle Pattern Detected for Weight Watchers (NYSE:WTW)
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. Yesterday's price range of $11.29 and $11.87 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 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 closed yesterday at 211% above that low price at $11.41 per share. The 200-day and 50-day moving averages have moved 1.31% higher and 1.02% lower over the past week, respectively.
Weight Watchers has overhead space with shares priced $11.41, or 39.9% below the average consensus analyst price target of $19.00. The stock should run into initial resistance at its 200-day moving average (MA) of $13.37 and subsequent 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 am inside day candle weight watchers