• Return to Headlines

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

By Shiri Gupta

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 $52.14 and $52.40 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 share prices have moved between a 52-week high of $52.92 and a 52-week low of $38.99 and closed yesterday at 34% above that low price at $52.30 per share. The 200-day and 50-day moving averages have moved 0.31% higher and 0.26% higher over the past week, respectively.

Based on a current price of $52.30, Republic Services is currently 8.2% above its average consensus analyst price target of $48.00. Republic Services shares have support at the 50-day moving average (MA) of $46.94 and additional support at the 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.

SmarTrend recommended that subscribers consider buying shares of Republic Services on May 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.55. Since that recommendation, shares of Republic Services have risen 9.6%. We continue to monitor RSG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle Republic Services

Ticker(s): RSG