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Possible Bearish Inside Day Candle Pattern Detected for Ww Grainger Inc (NYSE:GWW)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ww Grainger Inc (NYSE:GWW) based on the price action in the company's shares. Yesterday's price range of $306.68 and $309.98 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 Ww Grainger Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

W.W. Grainger, Inc. distributes maintenance, repair, and operating supplies, and related information to the commercial, industrial, contractor, and institutional markets in North America. The Company's products include motors, HVAC equipment, lighting, hand and power tools, pumps, and electrical equipment.

In the past 52 weeks, Ww Grainger Inc share prices have been bracketed by a low of $255.39 and a high of $346.60 and closed yesterday at $305.36, 20% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

Ww Grainger Inc (NYSE:GWW) is currently priced 5.8% above its average consensus analyst price target of $287.69. Ww Grainger Inc shares should encounter resistance at the 50-day moving average (MA) of $327.41 and support at its 200-day MA of $295.85.

SmarTrend is tracking the current trend status for Ww Grainger Inc and will alert subscribers who have GWW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle ww grainger inc

Ticker(s): GWW