• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Ww Grainger Inc (NYSE:GWW)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ww Grainger Inc (NYSE:GWW) based on the price action in the company's shares. Yesterday's price range of $335.40 and $337.57 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 Ww Grainger 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 Ww Grainger Inc have traded between a low of $255.39 and a high of $346.60 and closed yesterday at $331.07, which is 30% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Ww Grainger Inc (NYSE:GWW) is currently priced 13.1% above its average consensus analyst price target of $287.69. The stock should discover initial support at its 50-day moving average (MA) of $329.69 and subsequent support at its 200-day MA of $294.83.

W.W. Grainger, Inc. distributes maintenance, repair, and operating supplies, and related information to the commercial, industrial, contractor, and institutional markets in North America. The Company's products include motors, HVAC equipment, lighting, hand and power tools, pumps, and electrical equipment.

SmarTrend recommended that subscribers consider buying shares of Ww Grainger Inc on September 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $282.99. Since that recommendation, shares of Ww Grainger Inc have risen 18.2%. We continue to monitor GWW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle ww grainger inc

Ticker(s): GWW