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Possible Bullish Inside Day Candle Pattern Detected for World Fuel Svcs (NYSE:INT)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in World Fuel Svcs (NYSE:INT) based on the price action in the company's shares. Yesterday's price range of $38.55 and $39.23 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 World Fuel Svcs may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

World Fuel Svcs (NYSE:INT) defies analysts with a current price ($38.63) 15.9% above its average consensus price target of $32.50. World Fuel Svcs shares should encounter resistance at the 50-day moving average (MA) of $41.78 and support at its 200-day MA of $38.14.

World Fuel Services Corporation markets aviation and marine fuel services. The Company provides aviation fuel and flight plans, weather reports, and other aviation related services to passenger, cargo, and charter airlines, as well as markets marine fuel and fuel management services to shipping companies and the US military.

In the past 52 weeks, World Fuel Svcs share prices have been bracketed by a low of $23.71 and a high of $44.37 and closed yesterday at $38.63, 63% above that low price. The 200-day and 50-day moving averages have moved 0.29% higher and 0.61% lower over the past week, respectively.

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

Keywords: bullish am inside day candle world fuel svcs

Ticker(s): INT