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Possible Bearish Inside Day Candle Pattern Detected for Westrock Co (NYSE:WRK)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Westrock Co (NYSE:WRK) based on the price action in the company's shares. Yesterday's price range of $25.65 and $26.50 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 Westrock Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 182.0% for shares of Westrock Co based on a current price of $25.97 and an average consensus analyst price target of $73.23. The stock should run into initial resistance at its 50-day moving average (MA) of $28.46 and subsequent resistance at its 200-day MA of $35.84.

Westrock Co share prices have moved between a 52-week high of $44.39 and a 52-week low of $21.50 and closed yesterday at 21% above that low price at $25.97 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.6% while the 200-day MA has slid 0.4%.

WestRock Company provides consumer and corrugated packaging solutions. The Company offers merchandising displays, paperboard, recycling, and waste solutions. WestRock conducts business in the United States.

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

Keywords: bearish am inside day candle westrock co

Ticker(s): WRK