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

By David Diaz

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. Yesterday's price range of $47.52 and $47.85 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 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.

There is potential upside of 1.9% for shares of Unum Group based on a current price of $47.84 and an average consensus analyst price target of $48.75. The stock should find initial support at its 200-day moving average (MA) of $32.57 and further support at its 50-day MA of $31.82.

Unum Group share prices have moved between a 52-week high of $51.43 and a 52-week low of $29.79 and closed yesterday at 61% above that low price at $47.84 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.5%.

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

Keywords: bullish am inside day candle unum group

Ticker(s): UNM