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

Published on Tue, 05/05/2015 - 07:25
By Robert Cotter in Candlestick, yrcw, bullish am inside day candle, nasdaq:yrcw, yrc worldwide

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 $14.15 and $14.90 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.

Over the past year, YRC Worldwide has traded in a range of $13.89 to $29.21 and closed yesterday at $14.20, 2% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 1.8%.

YRC Worldwide, Inc. offers freight transportation services.

There is potential upside of 108.9% for shares of YRC Worldwide based on a current price of $14.20 and an average consensus analyst price target of $29.67. The stock should run into initial resistance at its 50-day moving average (MA) of $17.62 and subsequent resistance at its 200-day MA of $20.34.

By Robert Cotter
rcotter@fnno.com

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