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Possible Bearish Inside Day Candle Pattern Detected for Aflac Inc (NYSE:AFL)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Aflac Inc (NYSE:AFL) based on the price action in the company's shares. Today's price range of $47.18 and $47.49 is within yesterday'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. Owners of Aflac Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $47.29, Aflac Inc is currently 1.7% above its average consensus analyst price target of $46.50. Aflac Inc shares should encounter resistance at the 200-day moving average (MA) of $82.83 and support at the 50-day MA of $46.86.

Over the past year, Aflac Inc has traded in a range of $42.13 to $183.52 and is now at $47.29, 12% above that low. Over the past week, the 200-day moving average (MA) has gone down 2.3% while the 50-day MA has advanced 0.2%.

Aflac, Inc. is a general business holding company. The Company, through its subsidiaries, provides supplemental insurance to individuals in the United States and Japan. Aflac's products include accident and disability, cancer expense, short-term disability, sickness and hospital indemnity, hospital intensive care, and fixed-benefit dental plans.

SmarTrend is tracking the current trend status for Aflac Inc and will alert subscribers who have AFL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle aflac inc

Ticker(s): AFL