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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in United Parcel Service (NYSE:UPS) based on the price action in the company's shares. Today's price range of $100.68 and $101.45 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 Parcel Service 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 9.0% for shares of United Parcel Service based on a current price of $101.39 and an average consensus analyst price target of $110.52. United Parcel Service shares should encounter resistance at the 50-day moving average (MA) of $103.41 and support at its 200-day MA of $100.25.

In the past 52 weeks, shares of United Parcel Service have traded between a low of $87.30 and a high of $107.32 and are now at $101.39, which is 16% above that low price. The 200-day and 50-day moving averages have moved 0.12% higher and 0.49% higher over the past week, respectively.

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 U.S. UPS's business consists of integrated air and ground pick-up and delivery network

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

Keywords: bullish inside day candle united parcel service

Ticker(s): UPS