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Possible Bearish Inside Day Candle Pattern Detected for Commerce Bancshares (NASDAQ:CBSH)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Commerce Bancshares (NASDAQ:CBSH) based on the price action in the company's shares. Today's price range of $47.35 and $47.86 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 Commerce Bancshares may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Commerce Bancshares have traded between a low of $37.44 and a high of $49.41 and are now at $47.36, which is 26% above that low price. The 200-day and 50-day moving averages have moved 0.07% lower and 0.73% higher over the past week, respectively.

Commerce Bancshares (NASDAQ:CBSH) is currently priced 6.4% above its average consensus analyst price target of $44.33. The stock should discover initial support at its 50-day moving average (MA) of $45.23 and subsequent support at its 200-day MA of $44.46.

Commerce Bancshares, Inc., a bank holding company, offers a full line of banking services, including investment management and securities brokerage. The Company also has operating subsidiaries involved in mortgage banking, credit related insurance, venture capital, and real estate activities. Commerce operates in Missouri, Illinois, and Kansas.

SmarTrend is tracking the current trend status for Commerce Bancshares and will alert subscribers who have CBSH in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle commerce bancshares

Ticker(s): CBSH