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Possible Bearish Inside Day Candle Pattern Detected for Walker & Dunlop (NYSE:WD)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Walker & Dunlop (NYSE:WD) based on the price action in the company's shares. Yesterday's price range of $37.75 and $38.79 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 Walker & Dunlop may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Walker & Dunlop Inc. provides commercial real estate financial services in the United States, with a primary focus on multifamily lending. The Company originates, sells, and services a range of multifamily and other commercial real estate financing products.

In the past 52 weeks, Walker & Dunlop share prices have been bracketed by a low of $24.55 and a high of $79.74 and closed yesterday at $38.43, 57% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 6.5%.

Potential upside of 58.7% exists for Walker & Dunlop, based on a current level of $38.43 and analysts' average consensus price target of $61.00. Walker & Dunlop shares should first meet resistance at the 50-day moving average (MA) of $46.60 and find additional resistance at the 200-day MA of $58.21.

SmarTrend is monitoring the recent change of momentum in Walker & Dunlop. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Walker & Dunlop in search of a potential trend change.

Keywords: bearish am inside day candle walker & dunlop

Ticker(s): WD