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

By Nick Russo

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. Today's price range of $49.99 and $50.27 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 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 (NYSE:RSG) is currently priced 4.3% above its average consensus analyst price target of $48.00. The stock should find initial support at its 50-day moving average (MA) of $46.94 and further support at its 200-day MA of $43.99.

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.

Over the past year, Republic Services has traded in a range of $38.99 to $52.92 and is now at $50.14, 29% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

SmarTrend is tracking the current trend status for Republic Services and will alert subscribers who have RSG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle Republic Services

Ticker(s): RSG