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Possible Bullish Inside Day Candle Pattern Detected for Universal Hlth-B (NYSE:UHS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Universal Hlth-B (NYSE:UHS) based on the price action in the company's shares. Yesterday's price range of $139.13 and $139.19 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 Universal Hlth-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.

Universal Health Services, Inc. is a healthcare management company. The Company operates acute care hospitals, behavioral health centers, and surgery centers. Universal provides services such as general surgery, internal medicine, radiology, and pediatric services throughout the United States and Puerto Rico.

Based on a current price of $140.14, Universal Hlth-B is currently 6.5% above its average consensus analyst price target of $131.07. The stock should find resistance at its 50-day moving average (MA) of $142.82, as well as support at its 200-day MA of $139.26.

Universal Hlth-B share prices have moved between a 52-week high of $157.79 and a 52-week low of $117.77 and closed yesterday at 19% above that low price at $140.14 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

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

Keywords: bullish am inside day candle universal hlth-b

Ticker(s): UHS