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Possible Bullish Inside Day Candle Pattern Detected for Westrock Co (NYSE:WRK)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Westrock Co (NYSE:WRK) based on the price action in the company's shares. Yesterday's price range of $37.57 and $38.38 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 Westrock Co may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

WestRock Company provides consumer and corrugated packaging solutions. The Company offers merchandising displays, paperboard, recycling, and waste solutions. WestRock conducts business in the United States.

In the past 52 weeks, Westrock Co share prices have been bracketed by a low of $35.20 and a high of $67.96 and closed yesterday at $38.28, 9% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has remained constant.

Potential upside of 91.3% exists for Westrock Co, based on a current level of $38.28 and analysts' average consensus price target of $73.23. The stock should find initial resistance at its 50-day moving average (MA) of $39.42 and further resistance at its 200-day MA of $48.32.

SmarTrend is tracking the current trend status for Westrock Co and will alert subscribers who have WRK in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle westrock co

Ticker(s): WRK