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

By Nick Russo

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 $134.23 and $135.18 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.

Potential upside of 20.0% exists for Wabco Holdings, based on a current level of $134.18 and analysts' average consensus price target of $161.07. The stock should find resistance at its 200-day moving average (MA) of $134.22, as well as support at its 50-day MA of $133.84.

Over the past year, Wabco Holdings has traded in a range of $117.20 to $136.17 and closed yesterday at $134.18, 14% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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

SmarTrend is tracking the current trend status for Wabco Holdings and will alert subscribers who have WBC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle wabco holdings

Ticker(s): WBC