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Possible Bullish Inside Day Candle Pattern Detected for United Continental Holdings (NYSE:UAL)

By Shiri Gupta

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. Today's price range of $38.21 and $38.90 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 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.

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.

United Continental Holdings share prices have moved between a 52-week high of $63.90 and a 52-week low of $37.41 and are now trading 3% above that low price at $38.41 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.3% while the 200-day MA has slid 0.3%.

United Continental Holdings (NYSE:UAL) has potential upside of 110.1% based on a current price of $38.41 and analysts' consensus price target of $80.71. United Continental Holdings shares should first meet resistance at the 50-day moving average (MA) of $55.40 and find additional resistance at the 200-day MA of $55.46.

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 25.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle united continental holdings

Ticker(s): UAL