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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. Today's price range of $111.92 and $112.55 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 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 $101.45 and are now trading 11% above that low price at $112.21 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

There is potential upside of 10.3% for shares of United Parcel-B based on a current price of $112.21 and an average consensus analyst price target of $123.76. The stock should run into initial resistance at its 50-day moving average (MA) of $113.18 and subsequent resistance at its 200-day MA of $114.67.

SmarTrend is monitoring the recent change of momentum in United Parcel-B. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of United Parcel-B in search of a potential trend change.

Keywords: bearish inside day candle united parcel-b

Ticker(s): UPS