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Possible Bullish Inside Day Candle Pattern Detected for Cdw Corp/De (NASDAQ:CDW)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cdw Corp/De (NASDAQ:CDW) based on the price action in the company's shares. Yesterday's price range of $99.36 and $101.40 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 Cdw Corp/De may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Cdw Corp/De (NASDAQ:CDW) is currently priced 16.6% above its average consensus analyst price target of $84.90. Cdw Corp/De shares should first meet resistance at the 50-day moving average (MA) of $107.20 and find additional resistance at the 200-day MA of $121.69.

CDW Corporation of Delaware provides information technology products and services. The Company offers hardware, software, computer peripherals, cloud computing, mobile devices, network communication, and security solutions. CDW serves business, government, education, and healthcare customers throughout North America.

In the past 52 weeks, shares of Cdw Corp/De have traded between a low of $73.39 and a high of $146.09 and closed yesterday at $101.74, which is 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.7% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Cdw Corp/De and will alert subscribers who have CDW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle cdw corp/de

Ticker(s): CDW