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Possible Bullish Inside Day Candle Pattern Detected for Unum Group (NYSE:UNM)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Unum Group (NYSE:UNM) based on the price action in the company's shares. Yesterday's price range of $14.53 and $15.23 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 Unum Group may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 256.3% exists for Unum Group, based on a current level of $14.76 and analysts' average consensus price target of $52.58. Unum Group shares should first meet resistance at the 50-day moving average (MA) of $16.00 and find additional resistance at the 200-day MA of $25.59.

Unum Group share prices have moved between a 52-week high of $36.84 and a 52-week low of $9.58 and closed yesterday at 54% above that low price at $14.76 per share. Over the past week, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 5.6%.

Unum Group provides group disability and special risk insurance. The Company provides disability insurance, group life insurance, and payroll-deducted voluntary benefits offered to employees at their worksites.

SmarTrend is tracking the current trend status for Unum Group and will alert subscribers who have UNM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle unum group

Ticker(s): UNM