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Possible Bullish Inside Day Candle Pattern Detected for YRC Worldwide (NASDAQ:YRCW)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in YRC Worldwide (NASDAQ:YRCW) based on the price action in the company's shares. Yesterday's price range of $8.14 and $8.40 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 YRC Worldwide may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 207.3% exists for YRC Worldwide, based on a current level of $8.38 and analysts' average consensus price target of $25.75. YRC Worldwide shares should first meet resistance at the 50-day moving average (MA) of $9.12 and find additional resistance at the 200-day MA of $13.16.

YRC Worldwide, Inc. offers freight transportation services.

YRC Worldwide share prices have moved between a 52-week high of $21.37 and a 52-week low of $6.25 and closed yesterday at 34% above that low price at $8.38 per share. The 200-day and 50-day moving averages have moved 0.7% lower and 0.32% higher over the past week, respectively.

SmarTrend is tracking the current trend status for YRC Worldwide and will alert subscribers who have YRCW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle yrc worldwide

Ticker(s): YRCW