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Possible Bullish Inside Day Candle Pattern Detected for Wolverine World Wide (NYSE:WWW)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Wolverine World Wide (NYSE:WWW) based on the price action in the company's shares. Yesterday's price range of $23.75 and $24.14 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 Wolverine World Wide may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Wolverine World Wide has overhead space with shares priced $24.06, or 4.5% below the average consensus analyst price target of $25.19. Wolverine World Wide shares have support at the 200-day moving average (MA) of $20.30 and additional support at the 50-day MA of $18.58.

Wolverine World Wide, Inc. manufactures and markets branded footwear and performance leathers. The Company's products include shoes, slippers, occupational and safety footwear, and performance outdoor footwear, among others.

In the past 52 weeks, Wolverine World Wide share prices have been bracketed by a low of $14.74 and a high of $30.93 and closed yesterday at $24.06, 63% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.9%.

SmarTrend is tracking the current trend status for Wolverine World Wide and will alert subscribers who have WWW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle wolverine world wide

Ticker(s): WWW