Possible Bullish Inside Day Candle Pattern Detected for Western Union (NYSE:WU)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Western Union (NYSE:WU) based on the price action in the company's shares. Today's price range of $19.78 and $19.89 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 Western Union may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Western Union share prices have moved between a 52-week high of $22.84 and a 52-week low of $16.02 and are now trading 24% above that low price at $19.83 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.
Western Union Company offers money transfer services. The Company offers consumer to consumer money transfer and bill paying services, and sells money orders.
There is potential upside of 1.4% for shares of Western Union based on a current price of $19.83 and an average consensus analyst price target of $20.09. The stock should find initial support at its 50-day moving average (MA) of $19.37 and further support at its 200-day MA of $18.76.
SmarTrend is tracking the current trend status for Western Union and will alert subscribers who have WU in their portfolio or watchlist when shares have changed trend direction.
Keywords: bullish inside day candle Western Union