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Possible Bearish Inside Day Candle Pattern Detected for Bb&T Corp (NYSE:BBT)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Bb&T Corp (NYSE:BBT) based on the price action in the company's shares. Today's price range of $47.03 and $47.26 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 Bb&T Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Bb&T Corp share prices have moved between a 52-week high of $49.88 and a 52-week low of $32.85 and are now trading 43% above that low price at $47.12 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.5%.

BB&T Corporation operates banking offices in 15 states and Washington D.C. The Company and its subsidiaries offer full-service commercial and retail banking, as well as insurance, retail brokerage, corporate finance, international banking, leasing, and trust services.

Potential upside of 1.6% exists for Bb&T Corp, based on a current level of $47.12 and analysts' average consensus price target of $47.87. The stock should discover initial support at its 200-day moving average (MA) of $35.95 and subsequent support at its 50-day MA of $34.09.

SmarTrend recommended that subscribers consider buying shares of Bb&T Corp on June 9th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.92. Since that recommendation, shares of Bb&T Corp have risen 7.0%. We continue to monitor BBT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle bb&t corp

Ticker(s): BBT