Union Pacific Corporation (NYSE: UNP) exhibits mixed signals across various technical indicators and moving averages. As of the latest data, the stock is trading at $226.36, with a slight pre-market drop to $226.00. This analysis breaks down the key indicators, candlestick patterns, and recent news to provide a comprehensive outlook on UNP’s potential price movements.
The recent candlestick patterns show a potential reversal with a bullish engulfing pattern in the last trading sessions, signaling that buyers are stepping in at the current support levels around $225. The price has found support near the $222-$226 range, which aligns with the S1 pivot levels. Resistance is observed near the $235-$240 levels.
Long Position:
Entry Point: Consider entering a long position if the stock breaks above the immediate resistance at $229. This would confirm a breakout above short-term moving averages and the Ichimoku Cloud.
Price Target: Set a speculative price target around $240, aligning with R1 pivot resistance levels.
Stop Loss: Place a stop loss at $222 to mitigate downside risk.
Short Position:
Entry Point: Initiate a short position if the stock fails to hold the $226 support and closes below $222.
Price Target: Target a drop towards $212, correlating with the S2 Fibonacci support level.
Stop Loss: Set a stop loss at $230 to protect against a reversal.
Bullish Scenario: If UNP breaks and sustains above $229, it could rally towards $240-$245 in the short term.
Bearish Scenario: A drop below $222 could see the stock retesting $212-$215 levels.
The recent candlestick patterns show a potential reversal with a bullish engulfing pattern in the last trading sessions, signaling that buyers are stepping in at the current support levels around $225. The price has found support near the $222-$226 range, which aligns with the S1 pivot levels. Resistance is observed near the $235-$240 levels.
Long Position:
Entry Point: Consider entering a long position if the stock breaks above the immediate resistance at $229. This would confirm a breakout above short-term moving averages and the Ichimoku Cloud.
Price Target: Set a speculative price target around $240, aligning with R1 pivot resistance levels.
Stop Loss: Place a stop loss at $222 to mitigate downside risk.
Short Position:
Entry Point: Initiate a short position if the stock fails to hold the $226 support and closes below $222.
Price Target: Target a drop towards $212, correlating with the S2 Fibonacci support level.
Stop Loss: Set a stop loss at $230 to protect against a reversal.
Bullish Scenario: If UNP breaks and sustains above $229, it could rally towards $240-$245 in the short term.
Bearish Scenario: A drop below $222 could see the stock retesting $212-$215 levels.