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Possible Bullish Inside Day Candle Pattern Detected for Werner Ent (NASDAQ:WERN)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Werner Ent (NASDAQ:WERN) based on the price action in the company's shares. Yesterday's price range of $35.90 and $36.80 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 Werner Ent may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Werner Ent has overhead space with shares priced $36.60, or 12.0% below the average consensus analyst price target of $41.60. The stock should find initial resistance at its 200-day moving average (MA) of $37.46 and further resistance at its 50-day MA of $37.94.

Werner Ent share prices have moved between a 52-week high of $43.95 and a 52-week low of $21.35 and closed yesterday at 71% above that low price at $36.60 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

Werner Enterprises, Inc. is a transportation company that primarily hauls truckload shipments of general commodities in both interstate and intrastate commerce. The Company operates in the continental United States, as well as in Canada and Mexico.

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

Keywords: bullish am inside day candle werner ent

Ticker(s): WERN