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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Yrc Worldwide In (NASDAQ:YRCW) based on the price action in the company's shares. Yesterday's price range of $6.53 and $6.70 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 In may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

YRC Worldwide, Inc. operates as a holding company. The Company, through its subsidiaries, offers supply-chain solutions and heavyweight shipments for the transportation of industrial, commercial, and retail goods, such as apparel, appliances, automotive parts, chemicals, food, furniture, glass, machinery, and metal.

In the past 52 weeks, Yrc Worldwide In share prices have been bracketed by a low of $2.41 and a high of $11.76 and closed yesterday at $6.65, 176% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 3.8%.

There is potential upside of 130.6% for shares of Yrc Worldwide In based on a current price of $6.65 and an average consensus analyst price target of $15.33. The stock should find initial resistance at its 50-day moving average (MA) of $6.67 and further resistance at its 200-day MA of $7.85.

SmarTrend recommended that its subscribers protect gains by selling shares of Yrc Worldwide In on March 6th, 2019 by issuing a Downtrend alert when the shares were trading at $6.91. Since that call, shares of Yrc Worldwide In have fallen 5.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle yrc worldwide in

Ticker(s): YRCW