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Possible Bearish Inside Day Candle Pattern Detected for Unum Group (NYSE:UNM)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Unum Group (NYSE:UNM) based on the price action in the company's shares. Today's price range of $37.67 and $37.98 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 Unum Group may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Unum Group provides group disability and special risk insurance. The Company provides disability insurance, group life insurance, and payroll-deducted voluntary benefits offered to employees at their worksites.

Unum Group (NYSE:UNM) has potential upside of 38.7% based on a current price of $37.90 and analysts' consensus price target of $52.58. The stock should hit resistance at its 200-day moving average (MA) of $43.28, as well as support at its 50-day MA of $37.35.

Over the past year, Unum Group has traded in a range of $34.57 to $58.73 and is now at $37.90, 10% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.2%.

SmarTrend is tracking the current trend status for Unum Group and will alert subscribers who have UNM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle unum group

Ticker(s): UNM