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

Published on Thu, 03/28/2013 - 07:29
By Adrienne Chilton

Analysts have spotted a possible bullish inside day candle pattern in YRC Worldwide (NASDAQ:YRCW) based on the price action in the company's shares. Yesterday's price range of $7.41 and $7.80 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 may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

YRC Worldwide (NASDAQ:YRCW) is currently priced 35.3% above its average consensus analyst price target of $5.00. The stock should find initial support at its 50-day moving average (MA) of $6.76 and further support at its 200-day MA of $6.66.

YRC Worldwide, Inc. offers freight transportation services.

In the past 52 weeks, YRC Worldwide share prices have been bracketed by a low of $4.56 and a high of $9.60 and closed yesterday at $7.73, 70% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.9%.

By Adrienne Chilton