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Possible Bullish Inside Day Candle Pattern Detected for Republic Services (NYSE:RSG)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Republic Services (NYSE:RSG) based on the price action in the company's shares. Yesterday's price range of $50.67 and $51.01 is within the prior day'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 Republic Services may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Republic Services, Inc. provides non-hazardous solid waste collection and disposal services in the United States. The Company provides solid waste collection services for commercial, industrial, municipal, and residential customers. Republic also operates transfer stations, landfills, and recycling facilities.

In the past 52 weeks, shares of Republic Services have traded between a low of $38.99 and a high of $52.92 and closed yesterday at $50.72, which is 30% above that low price. The 200-day and 50-day moving averages have moved 0.31% higher and 0.26% higher over the past week, respectively.

Republic Services (NYSE:RSG) defies analysts with a current price ($50.72) 5.4% above its average consensus price target of $48.00. The stock should discover initial support at its 50-day moving average (MA) of $46.94 and subsequent support at its 200-day MA of $43.99.

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

Keywords: bullish am inside day candle Republic Services

Ticker(s): RSG