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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish 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 $98.06 and $99.36 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. Traders and investors interested in shares of United Parcel-B may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, United Parcel-B has traded in a range of $82.00 to $125.30 and closed yesterday at $99.45, 21% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

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

United Parcel-B has overhead space with shares priced $99.45, or 19.6% below the average consensus analyst price target of $123.76. The stock should hit resistance at its 200-day moving average (MA) of $111.29, as well as support at its 50-day MA of $96.60.

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: bullish am inside day candle united parcel-b

Ticker(s): UPS