• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Yrc Worldwide In (NASDAQ:YRCW)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Yrc Worldwide In (NASDAQ:YRCW) based on the price action in the company's shares. Yesterday's price range of $1.37 and $1.46 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 Yrc Worldwide In may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Yrc Worldwide In has traded in a range of $1.31 to $8.67 and closed yesterday at $1.41, 8% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 2.2% while the 50-day MA has declined 5.7%.

Potential upside of 987.5% exists for Yrc Worldwide In, based on a current level of $1.41 and analysts' average consensus price target of $15.33. Yrc Worldwide In shares should first meet resistance at the 50-day moving average (MA) of $2.02 and find additional resistance at the 200-day MA of $2.94.

YRC Worldwide, Inc. operates as a holding company. The Company, through its subsidiaries, offers supply-chain solutions and heavyweight shipments for the transportation of industrial, commercial, and retail goods, such as apparel, appliances, automotive parts, chemicals, food, furniture, glass, machinery, and metal.

SmarTrend is tracking the current trend status for Yrc Worldwide In and will alert subscribers who have YRCW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle yrc worldwide in

Ticker(s): YRCW