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

By Nick Russo

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 $29.64 and $29.81 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 $38.29 and a 52-week low of $24.71 and closed yesterday at 20% above that low price at $29.70 per share. The 200-day and 50-day moving averages have moved 0.23% lower and 0.10% higher over the past week, respectively.

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 Group has overhead space with shares priced $29.70, or 43.5% below the average consensus analyst price target of $52.58. The stock should hit resistance at its 200-day moving average (MA) of $30.14, as well as support at its 50-day MA of $29.08.

SmarTrend is tracking the current trend status for Unum Group and will alert subscribers who have UNM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle unum group

Ticker(s): UNM