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Possible Bullish Inside Day Candle Pattern Detected for Yum! Brands (NYSE:YUM)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Yum! Brands (NYSE:YUM) based on the price action in the company's shares. Today's price range of $86.33 and $86.86 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 Yum! Brands may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Yum! Brands has traded in a range of $64.58 to $95.90 and is now at $86.44, 34% above that low. The 200-day and 50-day moving averages have moved 0.2% lower and 0.93% higher over the past week, respectively.

Yum! Brands, Inc, owns and franchises quick-service restaurants worldwide. The Company develops, operates, franchises and licenses a worldwide system of restaurants which prepare, package and sell a menu of food items.

Yum! Brands (NYSE:YUM) is currently priced 5.4% above its average consensus analyst price target of $81.74. The stock should discover initial support at its 50-day moving average (MA) of $79.59 and subsequent support at its 200-day MA of $76.37.

SmarTrend is tracking the current trend status for Yum! Brands and will alert subscribers who have YUM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle Yum! Brands

Ticker(s): YUM