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

By Nick Russo

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 $109.79 and $110.89 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.

United Parcel-B has overhead space with shares priced $109.80, or 12.4% below the average consensus analyst price target of $125.39. United Parcel-B shares have support at the 50-day moving average (MA) of $103.41 and additional support at the 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

In the past 52 weeks, United Parcel-B share prices have been bracketed by a low of $102.12 and a high of $135.53 and are now at $109.80, 8% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

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 14.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle united parcel-b

Ticker(s): UPS