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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in United Parcel Service (NYSE:UPS) based on the price action in the company's shares. Today's price range of $110.24 and $111.37 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 Service 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 Service has traded in a range of $87.30 to $112.88 and is now at $111.19, 27% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

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 U.S. UPS's business consists of integrated air and ground pick-up and delivery network

Based on a current price of $111.19, United Parcel Service is currently 0.6% above its average consensus analyst price target of $110.52. 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.

SmarTrend is tracking the current trend status for United Parcel Service and will alert subscribers who have UPS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle united parcel service

Ticker(s): UPS