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Possible Bearish Inside Day Candle Pattern Detected for Universal Hlth-B (NYSE:UHS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Universal Hlth-B (NYSE:UHS) based on the price action in the company's shares. Today's price range of $153.87 and $155.01 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 Universal Hlth-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, Universal Hlth-B share prices have been bracketed by a low of $112.79 and a high of $157.79 and are now at $153.87, 36% 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 1.1%.

Universal Hlth-B (NYSE:UHS) is currently priced 14.8% above its average consensus analyst price target of $131.07. Universal Hlth-B shares have support at the 50-day moving average (MA) of $140.80 and additional support at the 200-day MA of $131.38.

Universal Health Services, Inc. is a healthcare management company. The Company operates acute care hospitals, behavioral health centers, and surgery centers. Universal provides services such as general surgery, internal medicine, radiology, and pediatric services throughout the United States and Puerto Rico.

SmarTrend recommended that subscribers consider buying shares of Universal Hlth-B on June 25th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $127.85. Since that recommendation, shares of Universal Hlth-B have risen 21.5%. We continue to monitor UHS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle universal hlth-b

Ticker(s): UHS