Possible Bullish Inside Day Candle Pattern Detected for United Continental Holdings (NYSE:UAL)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in United Continental Holdings (NYSE:UAL) based on the price action in the company's shares. Yesterday's price range of $42.51 and $43.72 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 United Continental Holdings may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
There is potential upside of 88.2% for shares of United Continental Holdings based on a current price of $42.89 and an average consensus analyst price target of $80.71. The stock should run into initial resistance at its 50-day moving average (MA) of $55.40 and subsequent resistance at its 200-day MA of $55.46.
United Continental Holdings Inc. is an airline holding company. The Company owns and operates airlines that transports persons, property and mail throughout the United Statesand abroad.
In the past 52 weeks, shares of United Continental Holdings have traded between a low of $41.46 and a high of $63.90 and closed yesterday at $42.89, which is 3% 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 declined 1.3%.
SmarTrend recommended that its subscribers protect gains by selling shares of United Continental Holdings on April 25th, 2016 by issuing a Downtrend alert when the shares were trading at $50.38. Since that call, shares of United Continental Holdings have fallen 16.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: bullish am inside day candle united continental holdings