A key Rectangle has formed on UNP. Analyze the breakout level now.
Sideways movement between parallel supports.
Bearish continuation pattern.
Consolidation. Can break either way.
Bearish continuation if preceding move was down.
Market participants tracking Union Pacific Corporation should note the latest formation. With a last close of $244.71, volatility remains active (0.65%). Price action has carved out a classic Bearish Flag. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $231.72, targeting $182.42 with support near $246.13 (R:R 3.42).
What is your outlook on UNP?