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Possible Bearish Inside Day Candle Pattern Detected for First American F (NYSE:FAF)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in First American F (NYSE:FAF) based on the price action in the company's shares. Yesterday's price range of $46.57 and $47.36 is within the prior day'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 First American F may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

First American Financial Corporation provides insurance services. The Company offers title insurance, property and casualty insurance, specialty insurance, and financial services. First American Financial serves individuals and businesses throughout the United States.

First American F (NYSE:FAF) has potential upside of 38.3% based on a current price of $47.58 and analysts' consensus price target of $65.80. First American F shares should encounter resistance at the 200-day moving average (MA) of $51.32 and support at the 50-day MA of $45.67.

In the past 52 weeks, First American F share prices have been bracketed by a low of $41.96 and a high of $62.71 and closed yesterday at $47.58, 13% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 0.6%.

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

Keywords: bearish am inside day candle first american f

Ticker(s): FAF