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Possible Bearish Inside Day Candle Pattern Detected for Union Pac Corp (NYSE:UNP)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Union Pac Corp (NYSE:UNP) based on the price action in the company's shares. Yesterday's price range of $149.74 and $151.68 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 Union Pac Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Union Pacific Corporation is a rail transportation company. The Company's railroad hauls a variety of goods, including agricultural, automotive, and chemical products. Union Pacific offers long-haul routes from all major West Coast and Gulf Coast ports to eastern gateways as well as connects with Canada's rail systems and serves the major gateways to Mexico.

In the past 52 weeks, Union Pac Corp share prices have been bracketed by a low of $115.69 and a high of $165.63 and closed yesterday at $150.48, 30% above that low price. The 200-day and 50-day moving averages have moved 0.26% higher and 0.63% lower over the past week, respectively.

Union Pac Corp (NYSE:UNP) defies analysts with a current price ($150.48) 2.1% above its average consensus price target of $147.33. The stock should hit resistance at its 50-day moving average (MA) of $152.49, as well as support at its 200-day MA of $144.49.

SmarTrend is monitoring the recent change of momentum in Union Pac Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Union Pac Corp in search of a potential trend change.

Keywords: bearish am inside day candle union pac corp

Ticker(s): UNP