Possible Bearish Inside Day Candle Pattern Detected for UGI (NYSE:UGI)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in UGI (NYSE:UGI) based on the price action in the company's shares. Yesterday's price range of $45.06 and $45.53 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 UGI may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
UGI (NYSE:UGI) is currently priced 14.5% above its average consensus analyst price target of $38.90. UGI shares have support at the 50-day moving average (MA) of $39.67 and additional support at the 200-day MA of $35.90.
UGI Corporation distributes and markets energy products and services. The Company is a domestic and international distributor of propane. UGI also distributes and markets natural gas and electricity, and sells related products and services in the Middle Atlantic region of the United States.
In the past 52 weeks, UGI share prices have been bracketed by a low of $31.51 and a high of $46.54 and closed yesterday at $45.49, 44% 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 0.8%.
SmarTrend is monitoring the recent change of momentum in UGI. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of UGI in search of a potential trend change.
Keywords: bearish am inside day candle