Watson Pharmaceuticals Had a Bearish Engulfing Candle

Shares of Watson Pharmaceuticals, Inc. (NYSE:WPI) ended the trading session lower by $0.32 or -0.59% from its previous close. Watson's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Watson Pharmaceuticals, Inc. (NYSE:WPI) develops, manufactures, and sells generic and brand name pharmaceutical products. The Company's core focus is specialty products, nephrology, urology, and generic products.

Watson's current stock range is defined by calculated support defined at $53.73 and by the resistance level at $57.45, which should be used by traders planning their trades.