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

By Shiri Gupta

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. Today's price range of $138.25 and $139.74 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. 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 (NYSE:VMW) is currently priced 0.2% above its average consensus analyst price target of $139.30. Vmware Inc-Cl A shares should encounter resistance at the 200-day moving average (MA) of $146.32 and support at the 50-day MA of $120.90.

Vmware Inc-Cl A share prices have moved between a 52-week high of $206.41 and a 52-week low of $86.00 and are now trading 62% above that low price at $139.60 per share. The 200-day and 50-day moving averages have moved 0.74% lower and 1.39% lower 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.

SmarTrend is tracking the current trend status for Vmware Inc-Cl A and will alert subscribers who have VMW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle vmware inc-cl a

Ticker(s): VMW