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Possible Bearish Inside Day Candle Pattern Detected for Republic Svcs (NYSE:RSG)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Republic Svcs (NYSE:RSG) based on the price action in the company's shares. Yesterday's price range of $90.21 and $90.44 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 Republic Svcs 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, shares of Republic Svcs have traded between a low of $72.52 and a high of $90.64 and closed yesterday at $90.32, which is 25% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.2%.

Based on a current price of $90.32, Republic Svcs is currently 23.5% above its average consensus analyst price target of $69.12. Republic Svcs shares have support at the 50-day moving average (MA) of $88.08 and additional support at the 200-day MA of $86.15.

Republic Services, Inc. provides non-hazardous solid waste collection and disposal services in the United States. The Company provides solid waste collection services for commercial, industrial, municipal, and residential customers. Republic also operates transfer stations, landfills, and recycling facilities.

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

Keywords: bearish am inside day candle republic svcs

Ticker(s): RSG