• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for United Tech Corp (NYSE:UTX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in United Tech Corp (NYSE:UTX) based on the price action in the company's shares. Today's price range of $148.34 and $148.81 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 Tech Corp 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, United Tech Corp share prices have been bracketed by a low of $100.48 and a high of $149.81 and are now at $148.61, 48% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

United Tech Corp (NYSE:UTX) is currently priced 2.1% above its average consensus analyst price target of $145.44. The stock should find initial support at its 50-day moving average (MA) of $143.33 and further support at its 200-day MA of $134.46.

United Technologies Corporation provides technology products and support services. The Company products include aircraft engines, elevators and escalators, heating and air conditioning equipment, helicopters, aerospace systems, fuel cell systems, and fire safety equipment.

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

Keywords: bearish inside day candle united tech corp

Ticker(s): UTX