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Possible Bearish Inside Day Candle Pattern Detected for Vmware Inc-Cl A (NYSE:VMW)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Vmware Inc-Cl A (NYSE:VMW) based on the price action in the company's shares. Yesterday's price range of $151.25 and $155.88 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 Vmware Inc-Cl A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Vmware Inc-Cl A share prices have moved between a 52-week high of $206.41 and a 52-week low of $128.69 and closed yesterday at 18% above that low price at $151.30 per share. The 200-day and 50-day moving averages have moved 0.31% lower and 0.27% higher over the past week, respectively.

VMware, Inc. provides virtualization solutions from the desktop to the data center. The Company's solution products addresses a range of IT problems, which includes cost and operational inefficiencies, business continuity, software lifecycle management, and desktop management.

Based on a current price of $151.30, Vmware Inc-Cl A is currently 7.9% above its average consensus analyst price target of $139.30. The stock should find initial resistance at its 50-day moving average (MA) of $158.26 and further resistance at its 200-day MA of $169.38.

SmarTrend recommended that its subscribers protect gains by selling shares of Vmware Inc-Cl A on November 29th, 2019 by issuing a Downtrend alert when the shares were trading at $158.21. Since that call, shares of Vmware Inc-Cl A have fallen 4.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle vmware inc-cl a

Ticker(s): VMW