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

By Amy Schwartz

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 $110.42 and $110.80 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.

In the past 52 weeks, shares of United Parcel-B have traded between a low of $89.89 and a high of $125.09 and closed yesterday at $110.88, which is 23% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.

United Parcel-B has overhead space with shares priced $110.88, or 10.4% below the average consensus analyst price target of $123.76. The stock should find resistance at its 200-day moving average (MA) of $111.29, as well as support at its 50-day MA of $105.35.

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 recommended that subscribers consider buying shares of United Parcel-B on December 28th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $97.48. Since that recommendation, shares of United Parcel-B have risen 13.7%. We continue to monitor UPS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle united parcel-b

Ticker(s): UPS