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

By Nick Russo

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 $97.02 and $97.50 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 (NYSE:UNP) has potential upside of 7.9% based on a current price of $97.16 and analysts' consensus price target of $104.81. The stock should discover initial support at its 200-day moving average (MA) of $83.87 and subsequent support at its 50-day MA of $82.00.

Over the past year, Union Pacific has traded in a range of $67.06 to $109.42 and is now at $97.16, 45% above that low. The 200-day and 50-day moving averages have moved 0.27% lower and 0.62% higher over the past week, respectively.

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.

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

Keywords: bullish inside day candle union pacific

Ticker(s): UNP