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Possible Bearish Inside Day Candle Pattern Detected for Assoc Banc-Corp (NYSE:ASB)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Assoc Banc-Corp (NYSE:ASB) based on the price action in the company's shares. Today's price range of $28.05 and $28.25 is within yesterday'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. Owners of Assoc Banc-Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Associated Banc-Corp is a Midwest banking franchise headquartered in Green Bay, Wisconsin. The Bank offers a full range of financial products and services through banking locations serving communities throughout Wisconsin, Illinois, and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas.

Assoc Banc-Corp (NYSE:ASB) has potential upside of 1.3% based on a current price of $28.17 and analysts' consensus price target of $28.54. The stock should discover initial support at its 50-day moving average (MA) of $26.10 and subsequent support at its 200-day MA of $25.03.

Assoc Banc-Corp share prices have moved between a 52-week high of $28.30 and a 52-week low of $20.95 and are now trading 34% above that low price at $28.17 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Assoc Banc-Corp on April 20th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.48. Since that recommendation, shares of Assoc Banc-Corp have risen 6.9%. We continue to monitor ASB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle assoc banc-corp

Ticker(s): ASB