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Possible Bearish Inside Day Candle Pattern Detected for Universal Hlth-B (NYSE:UHS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Universal Hlth-B (NYSE:UHS) based on the price action in the company's shares. Yesterday's price range of $106.72 and $108.58 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 Universal Hlth-B may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Universal Hlth-B (NYSE:UHS) has potential upside of 24.0% based on a current price of $105.69 and analysts' consensus price target of $131.07. The stock should find resistance at its 200-day moving average (MA) of $134.18, as well as support at its 50-day MA of $105.21.

Universal Health Services, Inc. is a healthcare management company. The Company operates acute care hospitals, behavioral health centers, and surgery centers. Universal provides services such as general surgery, internal medicine, radiology, and pediatric services throughout the United States and Puerto Rico.

In the past 52 weeks, shares of Universal Hlth-B have traded between a low of $65.20 and a high of $157.79 and closed yesterday at $105.69, which is 62% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.5% while the 200-day MA has slid 0.4%.

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

Keywords: bearish am inside day candle universal hlth-b

Ticker(s): UHS