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

By James Quinn

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 $109.80 and $110.52 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 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.

Over the past year, Union Pacific has traded in a range of $67.06 to $115.15 and is now at $109.98, 64% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.6%.

There is potential upside of 4.1% for shares of Union Pacific based on a current price of $109.98 and an average consensus analyst price target of $114.48. Union Pacific shares have support at the 200-day moving average (MA) of $83.87 and additional support at the 50-day MA of $82.00.

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