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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 $91.73 and $92.65 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.

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.

In the past 52 weeks, Yum! Brands Inc share prices have been bracketed by a low of $75.88 and a high of $94.13 and are now at $91.91, 21% above that low price. The 200-day and 50-day moving averages have moved 0.25% higher and 0.05% higher over the past week, respectively.

Based on a current price of $91.91, Yum! Brands Inc is currently 4.7% above its average consensus analyst price target of $87.56. The stock should find initial support at its 50-day moving average (MA) of $89.26 and further support at its 200-day MA of $84.86.

SmarTrend recommended that subscribers consider buying shares of Yum! Brands Inc on November 8th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $89.94. Since that recommendation, shares of Yum! Brands Inc have risen 3.9%. 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