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

By Shiri Gupta

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. Today's price range of $98.07 and $99.14 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 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.

In the past 52 weeks, shares of United Parcel-B have traded between a low of $82.00 and a high of $125.30 and are now at $99.06, which is 21% above that low price. The 200-day and 50-day moving averages have moved 0% lower and 1.26% lower over the past week, respectively.

Potential upside of 24.9% exists for United Parcel-B, based on a current level of $99.06 and analysts' average consensus price target of $123.76. The stock should run into initial resistance at its 50-day moving average (MA) of $104.33 and subsequent resistance at its 200-day MA of $111.79.

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

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 inside day candle united parcel-b

Ticker(s): UPS