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Possible Bullish Inside Day Candle Pattern Detected for Woodward (NYSE:WWD)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Woodward (NYSE:WWD) based on the price action in the company's shares. Yesterday's price range of $53.71 and $54.60 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 Woodward 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 Woodward have traded between a low of $39.68 and a high of $59.60 and closed yesterday at $54.51, which is 37% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.

Woodward Inc.designs, manufactures, and services energy control systems and components for aircraft and industrial engines and turbines. The Company's products and services are used in the aerospace, power generation, oil and gas processing, and transportation markets, which includes rail, marine, and many light and heavy industrial applications.

Woodward (NYSE:WWD) is currently priced 1.9% above its average consensus analyst price target of $53.50. Woodward shares have support at the 50-day moving average (MA) of $51.84 and additional support at the 200-day MA of $47.70.

SmarTrend is monitoring the recent change of momentum in Woodward. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Woodward in search of a potential trend change.

Keywords: bullish am inside day candle woodward

Ticker(s): WWD