• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Unum Group (NYSE:UNM)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Unum Group (NYSE:UNM) based on the price action in the company's shares. Today's price range of $30.28 and $31.00 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 Unum Group may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Unum Group provides group disability and special risk insurance. The Company provides disability insurance, group life insurance, and payroll-deducted voluntary benefits offered to employees at their worksites. Unum operates operates in the United States, the United Kingdom, and, to a limited extent, in certain other countries around the world.

In the past 52 weeks, Unum Group share prices have been bracketed by a low of $23.99 and a high of $38.15 and are now at $30.51, 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 0.2%.

Unum Group has overhead space with shares priced $30.51, or 21.9% below the average consensus analyst price target of $39.06. The stock should run into initial resistance at its 50-day moving average (MA) of $31.82 and subsequent resistance at its 200-day MA of $32.57.

SmarTrend recommended that its subscribers protect gains by selling shares of Unum Group on June 13th, 2016 by issuing a Downtrend alert when the shares were trading at $34.61. Since that call, shares of Unum Group have fallen 13.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle unum group

Ticker(s): UNM