Possible Bearish Inside Day Candle Pattern Detected for United Continental Holdings (NYSE:UAL)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in United Continental Holdings (NYSE:UAL) based on the price action in the company's shares. Today's price range of $53.60 and $54.11 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 United Continental Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
In the past 52 weeks, United Continental Holdings share prices have been bracketed by a low of $37.41 and a high of $63.90 and are now at $53.69, 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.3% while the 200-day MA has slid 0.3%.
United Continental Holdings Inc. is an airline holding company. The Company owns and operates airlines that transports persons, property and mail throughout the United Statesand abroad.
United Continental Holdings has overhead space with shares priced $53.69, or 33.5% below the average consensus analyst price target of $80.71. United Continental Holdings shares should first meet resistance at the 50-day moving average (MA) of $55.40 and find additional resistance at the 200-day MA of $55.46.
SmarTrend is monitoring the recent change of momentum in United Continental Holdings. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of United Continental Holdings in search of a potential trend change.
Keywords: bearish inside day candle united continental holdings