Bulls taking Control of Yum! Brands?

yum New York, August 3rd (TradersHuddle.com) - Shares of Yum! Brands, Inc. (NYSE:YUM) ended the trading session higher by $0.4 or 0.62% from its previous close. Yum! Brands' price action formed what is considered to be a bullish engulfing candle that could very well signal a continuation of trend or reversal of the ongoing weakness.

Yum! Brands, Inc (NYSE:YUM), owns and franchises quick-service restaurants worldwide. The Company develops, operates, franchises and licenses a worldwide system of restaurants, like Pizza Hut, KFC, and Taco Bell.

Yum! Brands' recent stock range was formed by a trough where calculated support was defined at $62.27 and by a peak that established the resistance level at $66.99. This range could be used by traders managing their positions.

Traders wanting to establish a position in Yum! Brands or traders that are already holding the stock can use the bullish engulfing pattern to their advantage. The pattern provides a defined risk, as it shows where the bears were able to push the stock down, before the bulls step in with a bid.

The bullish engulfing pattern is a leading indicator that provides an alert to the bulls that the trend will continue or that there is an immediate reversal to the short-term weakness seen on the stock. Below an Engulfing Bullish Candle Illustration:

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