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Possible Bearish Inside Day Candle Pattern Detected for First Horizon Na (NYSE:FHN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in First Horizon Na (NYSE:FHN) based on the price action in the company's shares. Today's price range of $14.87 and $14.87 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 First Horizon Na may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 50.1% for shares of First Horizon Na based on a current price of $14.87 and an average consensus analyst price target of $22.31. The stock should run into initial resistance at its 50-day moving average (MA) of $14.90 and subsequent resistance at its 200-day MA of $16.04.

In the past 52 weeks, shares of First Horizon Na have traded between a low of $12.30 and a high of $19.75 and are now at $14.87, which is 21% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.

First Horizon National Corporation, through its subsidiaries, provides a range of financial services. The Company offers a variety of commercial banking services and also conducts mortgage banking, capital markets, and transaction processing.

SmarTrend is tracking the current trend status for First Horizon Na and will alert subscribers who have FHN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle first horizon na

Ticker(s): FHN