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Possible Bearish Inside Day Candle Pattern Detected for Fifth Third Banc (NASDAQ:FITB)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Fifth Third Banc (NASDAQ:FITB) based on the price action in the company's shares. Today's price range of $34.11 and $34.30 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 Fifth Third Banc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Fifth Third Bancorp is a diversified financial services company that operates banking centers in the Midwestern and Southeastern regions of the United States. The Company's principal businesses include retail banking, commercial banking, investment advisory, and data processing.

In the past 52 weeks, Fifth Third Banc share prices have been bracketed by a low of $16.14 and a high of $34.67 and are now at $34.28, 112% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.2%.

Fifth Third Banc (NASDAQ:FITB) defies analysts with a current price ($34.28) 0.5% above its average consensus price target of $34.12. Fifth Third Banc shares have support at the 200-day moving average (MA) of $18.59 and additional support at the 50-day MA of $17.20.

SmarTrend recommended that subscribers consider buying shares of Fifth Third Banc on April 24th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.29. Since that recommendation, shares of Fifth Third Banc have risen 3.0%. We continue to monitor FITB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle fifth third banc

Ticker(s): FITB