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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. Yesterday's price range of $107.83 and $109.55 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.

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 share prices have moved between a 52-week high of $135.53 and a 52-week low of $102.12 and closed yesterday at 7% above that low price at $109.21 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

United Parcel-B (NYSE:UPS) has potential upside of 14.8% based on a current price of $109.21 and analysts' consensus price target of $125.39. The stock should find initial support at its 50-day moving average (MA) of $103.41 and further support at its 200-day MA of $100.25.

SmarTrend recommended that its subscribers protect gains by selling shares of United Parcel-B on January 30th, 2018 by issuing a Downtrend alert when the shares were trading at $129.42. Since that call, shares of United Parcel-B have fallen 15.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle united parcel-b

Ticker(s): UPS