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Possible Bullish Inside Day Candle Pattern Detected for Wabco Holdings (NYSE:WBC)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Wabco Holdings (NYSE:WBC) based on the price action in the company's shares. Yesterday's price range of $134.03 and $134.94 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 Wabco Holdings may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Wabco Holdings (NYSE:WBC) has potential upside of 20.2% based on a current price of $134.04 and analysts' consensus price target of $161.07. Wabco Holdings shares should encounter resistance at the 50-day moving average (MA) of $134.20 and support at its 200-day MA of $134.00.

WABCO Holdings Inc., manufactures electronic braking, stability, suspension, and transmission control systems commercial vehicles.

Over the past year, Wabco Holdings has traded in a range of $117.20 to $136.17 and closed yesterday at $134.04, 14% above that low. The 200-day and 50-day moving averages have moved 0.08% higher and 0.03% lower over the past week, respectively.

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

Keywords: bullish am inside day candle wabco holdings

Ticker(s): WBC