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Possible Bullish Inside Day Candle Pattern Detected for Atlas Air Worldw (NASDAQ:AAWW)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Atlas Air Worldw (NASDAQ:AAWW) based on the price action in the company's shares. Yesterday's price range of $20.79 and $22.25 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. Traders and investors interested in shares of Atlas Air Worldw may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Atlas Air Worldw share prices have moved between a 52-week high of $51.99 and a 52-week low of $14.97 and closed yesterday at 47% above that low price at $21.97 per share. The 200-day and 50-day moving averages have moved 1.54% lower and 1.47% lower over the past week, respectively.

Atlas Air Worldw has overhead space with shares priced $21.97, or 72.1% below the average consensus analyst price target of $78.75. The stock should run into initial resistance at its 50-day moving average (MA) of $24.39 and subsequent resistance at its 200-day MA of $28.30.

Atlas Air Worldwide Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, provides aircraft, crew, commercial and military charter, maintenance, and insurance freighter aircraft to major airlines around the world.

SmarTrend is tracking the current trend status for Atlas Air Worldw and will alert subscribers who have AAWW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle atlas air worldw

Ticker(s): AAWW