• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Western Union (NYSE:WU)

By James Quinn

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. Yesterday's price range of $19.76 and $20.11 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 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.

Potential upside of 0.9% exists for Western Union, based on a current level of $19.91 and analysts' average consensus price target of $20.09. Western Union shares have support at the 50-day moving average (MA) of $19.37 and additional support at the 200-day MA of $18.76.

Over the past year, Western Union has traded in a range of $16.02 to $22.84 and closed yesterday at $19.91, 24% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

Western Union Company offers money transfer services. The Company offers consumer to consumer money transfer and bill paying services, and sells money orders.

SmarTrend recommended that its subscribers protect gains by selling shares of Western Union on January 20th, 2017 by issuing a Downtrend alert when the shares were trading at $20.83. Since that call, shares of Western Union have fallen 5.7%. 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 Western Union

Ticker(s): WU