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Possible Bullish Inside Day Candle Pattern Detected for Aflac (NYSE:AFL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Aflac (NYSE:AFL) based on the price action in the company's shares. Today's price range of $72.25 and $72.51 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. Traders and investors interested in shares of Aflac may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Aflac have traded between a low of $51.41 and a high of $74.14 and are now at $72.36, which is 41% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 1.17% higher over the past week, respectively.

Aflac, Inc. is a general business holding company. The Company, through its subsidiaries, provides supplemental insurance to individuals in the United States and Japan. Aflac's products include accident/disability plans, cancer expense plans, short-term disability plans, sickness and hospital indemnity plans, hospital intensive care plans, and fixed-benefit dental plans.

Aflac (NYSE:AFL) is currently priced 5.1% above its average consensus analyst price target of $68.67. Aflac shares have support at the 50-day moving average (MA) of $64.30 and additional support at the 200-day MA of $61.43.

SmarTrend recommended that subscribers consider buying shares of Aflac on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $59.75. Since that recommendation, shares of Aflac have risen 20.8%. We continue to monitor AFL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle Aflac

Ticker(s): AFL