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Possible Bearish Inside Day Candle Pattern Detected for Wesco Intl (NYSE:WCC)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Wesco Intl (NYSE:WCC) based on the price action in the company's shares. Yesterday's price range of $53.65 and $54.78 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 Wesco Intl may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

WESCO International, Inc. distributes electrical products and other industrial maintenance, repair, and operating supplies. The Company also provides integrated supply services. WESCO operates branches and distribution centers in the United States, Canada, Puerto Rico, Guam, Mexico, the United Kingdom, and Singapore, which serve customers worldwide.

Potential upside of 32.0% exists for Wesco Intl, based on a current level of $54.01 and analysts' average consensus price target of $71.30. Wesco Intl shares have support at the 200-day moving average (MA) of $50.46 and additional support at the 50-day MA of $47.04.

In the past 52 weeks, Wesco Intl share prices have been bracketed by a low of $42.03 and a high of $57.94 and closed yesterday at $54.01, 29% above that low price. The 200-day and 50-day moving averages have moved 0.06% higher and 1.21% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Wesco Intl and will alert subscribers who have WCC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle wesco intl

Ticker(s): WCC