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Possible Bearish Inside Day Candle Pattern Detected for Ugi Corp (NYSE:UGI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ugi Corp (NYSE:UGI) based on the price action in the company's shares. Today's price range of $29.65 and $30.52 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. Owners of Ugi Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 68.2% for shares of Ugi Corp based on a current price of $29.73 and an average consensus analyst price target of $50.00. Ugi Corp shares should encounter resistance at the 200-day moving average (MA) of $41.80 and support at the 50-day MA of $29.04.

In the past 52 weeks, Ugi Corp share prices have been bracketed by a low of $21.75 and a high of $55.17 and are now at $29.73, 37% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 3.4%.

UGI Corporation distributes and markets energy products and services. The Company is a domestic and international distributor of propane. UGI offers natural gas and electricity and sells related products and services in the Middle Atlantic region of the United States.

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

Keywords: bearish inside day candle ugi corp

Ticker(s): UGI