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Possible Bearish Inside Day Candle Pattern Detected for Fulton Financial (NASDAQ:FULT)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Fulton Financial (NASDAQ:FULT) based on the price action in the company's shares. Today's price range of $16.72 and $16.72 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 Fulton Financial may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Fulton Financial has traded in a range of $14.38 to $18.45 and is now at $16.72, 16% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has remained constant.

Fulton Financial Corporation is a multi-bank holding company. The Banks offer a full range of general retail and commercial banking services, including deposits, loans, equipment leasing and financing, and credit cards. Fulton operates in Pennsylvania, Maryland, Delaware, and New Jersey.

Potential upside of 10.6% exists for Fulton Financial, based on a current level of $16.72 and analysts' average consensus price target of $18.50. Fulton Financial shares have support at the 200-day moving average (MA) of $16.36 and additional support at the 50-day MA of $16.33.

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

Keywords: bearish inside day candle fulton financial

Ticker(s): FULT