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Possible Bearish Inside Day Candle Pattern Detected for United Continental Holdings (NYSE:UAL)

By Shiri Gupta

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 $73.10 and $73.69 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.

There is potential upside of 16.2% for shares of United Continental Holdings based on a current price of $73.55 and an average consensus analyst price target of $85.44. The stock should discover initial support at its 200-day moving average (MA) of $55.46 and subsequent support at its 50-day MA of $55.40.

Over the past year, United Continental Holdings has traded in a range of $37.41 to $76.80 and is now at $73.55, 97% above that low. The 200-day and 50-day moving averages have moved 0.34% lower and 1.31% lower over the past week, respectively.

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.

SmarTrend recommended that subscribers consider buying shares of United Continental Holdings on March 31st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $70.82. Since that recommendation, shares of United Continental Holdings have risen 4.4%. We continue to monitor UAL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle united continental holdings

Ticker(s): UAL