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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 $59.73 and $60.32 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.

Yum! Brands (NYSE:YUM) has potential upside of 36.1% based on a current price of $60.03 and analysts' consensus price target of $81.74. The stock should run into initial resistance at its 200-day moving average (MA) of $76.37 and subsequent resistance at its 50-day MA of $79.59.

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.

In the past 52 weeks, shares of Yum! Brands have traded between a low of $59.62 and a high of $95.90 and are now at $60.03, which is 1% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has slid 0.2%.

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

Keywords: bullish inside day candle Yum! Brands

Ticker(s): YUM