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Possible Bullish Inside Day Candle Pattern Detected for Wisdomtree Inves (NASDAQ:WETF)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Wisdomtree Inves (NASDAQ:WETF) based on the price action in the company's shares. Yesterday's price range of $5.15 and $5.29 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 Wisdomtree Inves 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 123.0% exists for Wisdomtree Inves, based on a current level of $5.27 and analysts' average consensus price target of $11.75. The stock should hit resistance at its 200-day moving average (MA) of $6.27, as well as support at its 50-day MA of $5.10.

WisdomTree Investments, Inc., through its subsidiaries, operates as an exchange-traded funds (ETFs) sponsor and asset manager. It offers ETFs in equities, currency, fixed income, and alternatives asset classes.

Over the past year, Wisdomtree Inves has traded in a range of $4.55 to $11.75 and closed yesterday at $5.27, 16% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.4%.

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

Keywords: bullish am inside day candle wisdomtree inves

Ticker(s): WETF