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

By Nick Russo

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 $70.43 and $70.64 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.

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.

Based on a current price of $70.60, Aflac is currently 2.7% 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.

In the past 52 weeks, shares of Aflac have traded between a low of $51.41 and a high of $74.50 and are now at $70.60, which is 37% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.2%.

SmarTrend is monitoring the recent change of momentum in Aflac. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Aflac in search of a potential trend change.

Keywords: bullish inside day candle Aflac

Ticker(s): AFL