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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Union Pacific (NYSE:UNP) based on the price action in the company's shares. Today's price range of $88.04 and $88.94 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 Pacific may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Union Pacific (NYSE:UNP) has potential upside of 18.4% based on a current price of $88.55 and analysts' consensus price target of $104.81. The stock should find initial support at its 200-day moving average (MA) of $83.87 and further support at its 50-day MA of $82.00.

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 offersslong-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, shares of Union Pacific have traded between a low of $67.06 and a high of $109.42 and are now at $88.55, which is 32% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 0.3%.

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

Keywords: bearish inside day candle union pacific

Ticker(s): UNP