• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for United Parcel-B (NYSE:UPS)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in United Parcel-B (NYSE:UPS) based on the price action in the company's shares. Yesterday's price range of $94.27 and $95.39 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 Parcel-B 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 Parcel Service, Inc. (UPS) delivers packages and documents throughout the United States and in other countries and territories. The Company also provides global supply chain services and less-than-truckload transportation, primarily in the US UPS's business consists of integrated air and ground pick-up and delivery network

In the past 52 weeks, shares of United Parcel-B have traded between a low of $92.65 and a high of $125.30 and closed yesterday at $93.40, which is 1% above that low price. The 200-day and 50-day moving averages have moved 0.07% lower and 1.16% lower over the past week, respectively.

There is potential upside of 32.5% for shares of United Parcel-B based on a current price of $93.40 and an average consensus analyst price target of $123.76. The stock should find initial resistance at its 50-day moving average (MA) of $112.11 and further resistance at its 200-day MA of $112.18.

SmarTrend is tracking the current trend status for United Parcel-B and will alert subscribers who have UPS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle united parcel-b

Ticker(s): UPS