Possible Bullish Inside Day Candle Pattern Detected for United Technologies (NYSE:UTX)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in United Technologies (NYSE:UTX) based on the price action in the company's shares. Today's price range of $100.52 and $101.29 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 Technologies may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
In the past 52 weeks, United Technologies share prices have been bracketed by a low of $83.39 and a high of $119.66 and are now at $101.07, 21% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.
United Technologies Corporation provides technology products and support services to customers in the aerospace and building industries worldwide. The Company's products include aircraft engines, elevators and escalators, heating and air conditioning equipment, helicopters, aerospace systems, fuel cell systems, and fire and safety equipment.
United Technologies (NYSE:UTX) has potential upside of 7.9% based on a current price of $101.07 and analysts' consensus price target of $109.07. United Technologies shares have support at the 50-day moving average (MA) of $100.48 and additional support at the 200-day MA of $95.40.
SmarTrend recommended that its subscribers protect gains by selling shares of United Technologies on September 9th, 2016 by issuing a Downtrend alert when the shares were trading at $103.88. Since that call, shares of United Technologies have fallen 3.7%. 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 Technologies