• Return to Headlines

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

By James Quinn

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. Yesterday's price range of $111.38 and $112.26 is within the prior day'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 $102.12 to $120.44 and closed yesterday at $112.03, 10% above that low. The 200-day and 50-day moving averages have moved 0.12% higher and 0.49% higher over the past week, respectively.

There is potential upside of 2.5% for shares of United Parcel-B based on a current price of $112.03 and an average consensus analyst price target of $114.84. The stock should discover initial support at its 50-day moving average (MA) of $103.41 and subsequent support at its 200-day MA of $100.25.

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

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 am inside day candle united parcel-b

Ticker(s): UPS