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Possible Bearish Inside Day Candle Pattern Detected for United Parcel-B (NYSE:UPS)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in United Parcel-B (NYSE:UPS) based on the price action in the company's shares. Yesterday's price range of $123.05 and $124.02 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 United Parcel-B may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, United Parcel-B has traded in a range of $89.89 to $125.30 and closed yesterday at $123.73, 38% above that low. The 200-day and 50-day moving averages have moved 0.47% higher and 0.34% higher over the past week, respectively.

United Parcel Service, Inc. (UPS) delivers packages and documents throughout the United States and in other countries and territories. The Company also provides global supply chain services and less-than-truckload transportation, primarily in the US UPS's business consists of integrated air and ground pick-up and delivery network

Potential upside of 0.0% exists for United Parcel-B, based on a current level of $123.73 and analysts' average consensus price target of $123.76. United Parcel-B shares have support at the 50-day moving average (MA) of $118.80 and additional support at the 200-day MA of $110.77.

SmarTrend is tracking the current trend status for United Parcel-B and will alert subscribers who have UPS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle united parcel-b

Ticker(s): UPS