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

By Nick Russo

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 $285.43 and $289.59 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.

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.

Potential upside of 1.0% exists for Ww Grainger Inc, based on a current level of $284.85 and analysts' average consensus price target of $287.69. Ww Grainger Inc shares should first meet resistance at the 200-day moving average (MA) of $296.81 and find additional resistance at the 50-day MA of $323.75.

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 $284.85, which is 12% 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 declined 0.8%.

SmarTrend is tracking the current trend status for Ww Grainger Inc and will alert subscribers who have GWW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle ww grainger inc

Ticker(s): GWW