Washington Post Reversal Soon?

Published on Wednesday, 25 January 2012 04:03 Written by Danny Miller

New York, January 25th (TradersHuddle.com) - Shares of Washington Post Company (NYSE:WPO) ended the trading session lower by $4.75 or -1.2% from its previous close. Washington Post's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

The Washington Post Company (NYSE:WPO) is a diversified education and media company. Its operations include educational services, both domestically and outside the United States, owning and operating cable television systems, newspaper publishing, television broadcasting, and magazine publishing.

Washington Post's current stock range is defined by calculated support defined at $363.40 and by the resistance level at $405.00, which should be used by traders planning their trades.

Traders wanting to establish a position in Washington Post stock need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal to current Washington Post shares price action. The Bearish engulfing pattern is a leading warning sign, therefore traders should closely monitor price action for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration: