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Possible Bullish Inside Day Candle Pattern Detected for Ugi Corp (NYSE:UGI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ugi Corp (NYSE:UGI) based on the price action in the company's shares. Yesterday's price range of $54.15 and $54.34 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 Ugi Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

UGI Corporation distributes and markets energy products and services. The Company is a domestic and international distributor of propane. UGI offers natural gas and electricity and sells related products and services in the Middle Atlantic region of the United States.

Ugi Corp share prices have moved between a 52-week high of $59.31 and a 52-week low of $48.17 and closed yesterday at 13% above that low price at $54.23 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Ugi Corp (NYSE:UGI) is currently priced 7.8% above its average consensus analyst price target of $50.00. The stock should find resistance at its 200-day moving average (MA) of $54.71, as well as support at its 50-day MA of $54.09.

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

Keywords: bullish am inside day candle ugi corp

Ticker(s): UGI