• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Union Pacific (NYSE:UNP)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Union Pacific (NYSE:UNP) based on the price action in the company's shares. Today's price range of $92.61 and $93.12 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 Union Pacific may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Union Pacific Corporation is a rail transportation company. The Company's railroad hauls a variety of goods, including agricultural, automotive, and chemical products. Union Pacific offersslong-haul routes from all major West Coast and Gulf Coast ports to eastern gateways as well as connects with Canada's rail systems and serves the major gateways to Mexico.

In the past 52 weeks, Union Pacific share prices have been bracketed by a low of $67.06 and a high of $109.42 and are now at $92.92, 39% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.6%.

Union Pacific (NYSE:UNP) has potential upside of 12.8% based on a current price of $92.92 and analysts' consensus price target of $104.81. The stock should find initial support at its 200-day moving average (MA) of $83.87 and further support at its 50-day MA of $82.00.

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

Keywords: bullish inside day candle union pacific

Ticker(s): UNP