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Possible Bearish Inside Day Candle Pattern Detected for Wsfs Financial (NASDAQ:WSFS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Wsfs Financial (NASDAQ:WSFS) based on the price action in the company's shares. Yesterday's price range of $43.85 and $44.22 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 Wsfs Financial may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

WSFS Financial Corporation provides financial services. The Company, through its principal subsidiary, Wilmington Savings Fund Society, FSB, operates a network of offices in New Castle County and Dover, Delaware, as well as Chester, Delaware, and Montgomery counties in Pennsylvania.

Potential upside of 28.2% exists for Wsfs Financial, based on a current level of $44.08 and analysts' average consensus price target of $56.50. Wsfs Financial shares should encounter resistance at the 200-day moving average (MA) of $44.17 and support at the 50-day MA of $41.71.

In the past 52 weeks, shares of Wsfs Financial have traded between a low of $33.75 and a high of $57.70 and closed yesterday at $44.08, which is 31% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Wsfs Financial on April 11th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.52. Since that recommendation, shares of Wsfs Financial have risen 6.6%. We continue to monitor WSFS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle wsfs financial

Ticker(s): WSFS