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

By Nick Russo

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. Today's price range of $144.20 and $145.40 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 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 Pac Corp (NYSE:UNP) has potential upside of 1.7% based on a current price of $144.89 and analysts' consensus price target of $147.33. The stock should find initial support at its 50-day moving average (MA) of $136.24 and further support at its 200-day MA of $125.70.

In the past 52 weeks, Union Pac Corp share prices have been bracketed by a low of $101.06 and a high of $146.73 and are now at $144.89, 43% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.5%.

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.

SmarTrend recommended that subscribers consider buying shares of Union Pac Corp on May 9th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $138.60. Since that recommendation, shares of Union Pac Corp have risen 5.1%. We continue to monitor UNP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle union pac corp

Ticker(s): UNP