• 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. Yesterday's price range of $149.58 and $150.55 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 Tech Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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.

Based on a current price of $150.21, United Tech Corp is currently 3.2% above its average consensus analyst price target of $145.44. United Tech Corp shares have support at the 50-day moving average (MA) of $145.60 and additional support at the 200-day MA of $135.29.

In the past 52 weeks, United Tech Corp share prices have been bracketed by a low of $100.48 and a high of $150.90 and closed yesterday at $150.21, 49% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.3%.

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 am inside day candle united tech corp

Ticker(s): UTX