• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Comerica Inc (NYSE:CMA)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Comerica Inc (NYSE:CMA) based on the price action in the company's shares. Today's price range of $99.35 and $100.25 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 Comerica Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Comerica Inc has overhead space with shares priced $99.47, or 3.5% below the average consensus analyst price target of $103.04. Comerica Inc shares have support at the 50-day moving average (MA) of $96.37 and additional support at the 200-day MA of $85.98.

Over the past year, Comerica Inc has traded in a range of $64.04 to $102.66 and is now at $99.47, 55% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.5%.

Comerica Incorporated is the holding company for business, individual, and investment banks with operations in the United States, Canada, and Mexico. The Company subsidiaries provides services such as corporate banking, international finance, treasury management, community and private banking, small business and individual lending, investment services, and institutional trust.

SmarTrend is monitoring the recent change of momentum in Comerica Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Comerica Inc in search of a potential trend change.

Keywords: bearish inside day candle comerica inc

Ticker(s): CMA