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

By Nick Russo

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 $36.96 and $36.96 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.

Over the past year, Unum Group has traded in a range of $26.77 to $49.33 and is now at $36.96, 38% above that low. The 200-day and 50-day moving averages have moved 0.16% lower and 0.43% higher over the past week, respectively.

Potential upside of 42.3% exists for Unum Group, based on a current level of $36.96 and analysts' average consensus price target of $52.58. The stock should find initial support at its 200-day moving average (MA) of $35.71 and further support at its 50-day MA of $35.70.

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.

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