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Possible Bearish Inside Day Candle Pattern Detected for Cdw Corp/De (NASDAQ:CDW)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cdw Corp/De (NASDAQ:CDW) based on the price action in the company's shares. Yesterday's price range of $128.47 and $131.38 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. Owners of Cdw Corp/De may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Cdw Corp/De (NASDAQ:CDW) is currently priced 35.3% above its average consensus analyst price target of $84.90. The stock should find initial support at its 50-day moving average (MA) of $120.24 and further support at its 200-day MA of $107.06.

In the past 52 weeks, shares of Cdw Corp/De have traded between a low of $74.32 and a high of $132.35 and closed yesterday at $131.20, which is 77% above that low price. The 200-day and 50-day moving averages have moved 1.12% higher and 1.12% higher over the past week, respectively.

CDW Corporation of Delaware provides information technology products and services. The Company offers hardware, software, computer peripherals, cloud computing, mobile devices, network communication, and security solutions. CDW serves business, government, education, and healthcare customers throughout North America.

SmarTrend is tracking the current trend status for Cdw Corp/De and will alert subscribers who have CDW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle cdw corp/de

Ticker(s): CDW