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Possible Bearish Inside Day Candle Pattern Detected for United Parcel-B (NYSE:UPS)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in United Parcel-B (NYSE:UPS) based on the price action in the company's shares. Today's price range of $114.26 and $114.48 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 Parcel-B may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, United Parcel-B has traded in a range of $89.89 to $125.09 and is now at $114.26, 27% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

United Parcel Service, Inc. (UPS) delivers packages and documents throughout the United States and in other countries and territories. The Company also provides global supply chain services and less-than-truckload transportation, primarily in the US UPS's business consists of integrated air and ground pick-up and delivery network

United Parcel-B (NYSE:UPS) has potential upside of 8.3% based on a current price of $114.26 and analysts' consensus price target of $123.76. United Parcel-B shares have support at the 200-day moving average (MA) of $110.97 and additional support at the 50-day MA of $110.87.

SmarTrend is tracking the current trend status for United Parcel-B and will alert subscribers who have UPS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle united parcel-b

Ticker(s): UPS