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Possible Bearish Inside Day Candle Pattern Detected for Republic Svcs (NYSE:RSG)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Republic Svcs (NYSE:RSG) based on the price action in the company's shares. Yesterday's price range of $79.15 and $81.03 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. Owners of Republic Svcs may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Republic Svcs share prices have moved between a 52-week high of $100.91 and a 52-week low of $65.37 and closed yesterday at 24% above that low price at $81.21 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1.9%.

Republic Svcs (NYSE:RSG) is currently priced 14.9% above its average consensus analyst price target of $69.12. The stock should hit resistance at its 200-day moving average (MA) of $87.21, as well as support at its 50-day MA of $80.02.

Republic Services, Inc. provides non-hazardous solid waste collection and disposal services in the United States. The Company provides solid waste collection services for commercial, industrial, municipal, and residential customers. Republic also operates transfer stations, landfills, and recycling facilities.

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

Keywords: bearish am inside day candle republic svcs

Ticker(s): RSG