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

By Amy Schwartz

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 $47.10 and $48.32 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 share prices have moved between a 52-week high of $58.73 and a 52-week low of $29.79 and closed yesterday at 62% above that low price at $48.24 per share. 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 (NYSE:UNM) has potential upside of 20.6% based on a current price of $48.24 and analysts' consensus price target of $58.17. 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 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.

SmarTrend recommended that its subscribers protect gains by selling shares of Unum Group on March 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $48.53. Since that call, shares of Unum Group have fallen 3.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle unum group

Ticker(s): UNM