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Possible Bullish Inside Day Candle Pattern Detected for World Wrestlin-A (NYSE:WWE)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in World Wrestlin-A (NYSE:WWE) based on the price action in the company's shares. Yesterday's price range of $46.44 and $47.50 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 World Wrestlin-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

World Wrestlin-A (NYSE:WWE) is currently priced 7.8% above its average consensus analyst price target of $43.62. The stock should find initial resistance at its 50-day moving average (MA) of $61.80 and further resistance at its 200-day MA of $69.87.

World Wrestling Entertainment, Inc. is an integrated media and entertainment company with offices in the United States, Canada, and the United Kingdom. The Company conducts operations in live wrestling events, original television programming, music, publishing, advertising, licensing, and home video. World Wrestling distributes its programs to countries worldwide in various languages.

In the past 52 weeks, shares of World Wrestlin-A have traded between a low of $45.10 and a high of $100.45 and closed yesterday at $47.31, which is 5% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has slid 1%.

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

Keywords: bullish am inside day candle world wrestlin-a

Ticker(s): WWE