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Possible Bullish Inside Day Candle Pattern Detected for Wgl Hldgs Inc (NYSE:WGL)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Wgl Hldgs Inc (NYSE:WGL) based on the price action in the company's shares. Yesterday's price range of $87.95 and $88.12 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 Wgl Hldgs Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Wgl Hldgs Inc have traded between a low of $80.91 and a high of $88.34 and closed yesterday at $88.00, which is 9% above that low price. The 200-day and 50-day moving averages have moved 0.04% higher and 0.39% higher over the past week, respectively.

Wgl Hldgs Inc (NYSE:WGL) is currently priced 3.7% above its average consensus analyst price target of $84.75. The stock should discover initial support at its 50-day moving average (MA) of $85.30 and subsequent support at its 200-day MA of $84.88.

WGL Holdings Inc., through its Washington Gas Light Company subsidiary, sells and delivers natural gas and other energy-related products and services. The Company serves residential, commercial, and industrial customers throughout metropolitan Washington, D.C. and the surrounding region.

SmarTrend recommended that subscribers consider buying shares of Wgl Hldgs Inc on March 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $84.31. Since that recommendation, shares of Wgl Hldgs Inc have risen 4.3%. We continue to monitor WGL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle wgl hldgs inc

Ticker(s): WGL