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

By David Diaz

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. Today's price range of $19.17 and $19.50 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 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, 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.

There is potential upside of 13.9% for shares of Wolverine World Wide based on a current price of $19.32 and an average consensus analyst price target of $22.00. The stock should find resistance at its 200-day moving average (MA) of $20.30, as well as support at its 50-day MA of $18.58.

Wolverine World Wide share prices have moved between a 52-week high of $30.93 and a 52-week low of $14.74 and are now trading 31% above that low price at $19.32 per share. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 0.7%.

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 inside day candle wolverine world wide

Ticker(s): WWW