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

By James Quinn

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. Today's price range of $8.14 and $8.29 is within yesterday'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.

YRC Worldwide, Inc. offers freight transportation services.

In the past 52 weeks, YRC Worldwide share prices have been bracketed by a low of $6.25 and a high of $21.37 and are now at $8.23, 32% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 0.3%.

YRC Worldwide (NASDAQ:YRCW) has potential upside of 212.9% based on a current price of $8.23 and analysts' consensus price target of $25.75. The stock should run into initial resistance at its 50-day moving average (MA) of $9.12 and subsequent resistance at its 200-day MA of $13.16.

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 inside day candle yrc worldwide

Ticker(s): YRCW