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Possible Bearish Inside Day Candle Pattern Detected for Union Pac Corp (NYSE:UNP)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Union Pac Corp (NYSE:UNP) based on the price action in the company's shares. Today's price range of $183.77 and $184.53 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 Union Pac Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Union Pacific Corporation is a rail transportation company. The Company's railroad hauls a variety of goods, including agricultural, automotive, and chemical products. Union Pacific offers long-haul routes from all major West Coast and Gulf Coast ports to eastern gateways as well as connects with Canada's rail systems and serves the major gateways to Mexico.

Based on a current price of $183.92, Union Pac Corp is currently 19.9% above its average consensus analyst price target of $147.33. Union Pac Corp shares have support at the 50-day moving average (MA) of $177.28 and additional support at the 200-day MA of $170.82.

In the past 52 weeks, shares of Union Pac Corp have traded between a low of $149.09 and a high of $185.65 and are now at $183.92, which is 23% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.2%.

SmarTrend recommended that subscribers consider buying shares of Union Pac Corp on December 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $179.43. Since that recommendation, shares of Union Pac Corp have risen 3.3%. We continue to monitor UNP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle union pac corp

Ticker(s): UNP