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Possible Bullish Inside Day Candle Pattern Detected for Walker & Dunlop (NYSE:WD)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Walker & Dunlop (NYSE:WD) based on the price action in the company's shares. Yesterday's price range of $26.77 and $28.17 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 Walker & Dunlop 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 118.2% exists for Walker & Dunlop, based on a current level of $27.95 and analysts' average consensus price target of $61.00. Walker & Dunlop shares should first meet resistance at the 200-day moving average (MA) of $59.90 and find additional resistance at the 50-day MA of $60.18.

Over the past year, Walker & Dunlop has traded in a range of $30.14 to $79.74 and closed yesterday at $27.95, -7% above that low. The 200-day and 50-day moving averages have moved 0.73% lower and 5.08% lower over the past week, respectively.

Walker & Dunlop Inc. provides commercial real estate financial services in the United States, with a primary focus on multifamily lending. The Company originates, sells, and services a range of multifamily and other commercial real estate financing products.

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

Keywords: bullish am inside day candle walker & dunlop

Ticker(s): WD