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

By David Diaz

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. Yesterday's price range of $90.54 and $91.55 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. 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.

In the past 52 weeks, Aflac Inc share prices have been bracketed by a low of $66.50 and a high of $91.73 and closed yesterday at $90.83, 37% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.2%.

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.

Aflac Inc has overhead space with shares priced $90.83, or 0.9% below the average consensus analyst price target of $91.62. The stock should discover initial support at its 50-day moving average (MA) of $64.30 and subsequent support at its 200-day MA of $61.43.

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 am inside day candle aflac inc

Ticker(s): AFL