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Possible Bearish Inside Day Candle Pattern Detected for Yum! Brands Inc (NYSE:YUM)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Yum! Brands Inc (NYSE:YUM) based on the price action in the company's shares. Today's price range of $116.61 and $117.26 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 Yum! Brands Inc 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, Yum! Brands Inc share prices have been bracketed by a low of $83.39 and a high of $119.72 and are now at $117.13, 40% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.6%.

Yum! Brands, Inc, owns and franchises quick-service restaurants worldwide. The Company develops, operates, franchises, and licenses a worldwide system of restaurants which prepare, package, and sell a menu of food items.

Yum! Brands Inc (NYSE:YUM) defies analysts with a current price ($117.13) 25.2% above its average consensus price target of $87.56. The stock should find initial support at its 50-day moving average (MA) of $112.97 and further support at its 200-day MA of $100.30.

SmarTrend recommended that subscribers consider buying shares of Yum! Brands Inc on June 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $105.88. Since that recommendation, shares of Yum! Brands Inc have risen 10.8%. We continue to monitor YUM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle yum! brands inc

Ticker(s): YUM