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Possible Bearish Inside Day Candle Pattern Detected for Huntington Banc (NASDAQ:HBAN)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Huntington Banc (NASDAQ:HBAN) based on the price action in the company's shares. Today's price range of $13.57 and $13.64 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 Huntington Banc 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, Huntington Banc share prices have been bracketed by a low of $11.12 and a high of $16.52 and are now at $13.64, 23% above that low price. The 200-day and 50-day moving averages have moved 0.34% lower and 0.07% lower over the past week, respectively.

Potential upside of 26.0% exists for Huntington Banc, based on a current level of $13.64 and analysts' average consensus price target of $17.18. The stock should find resistance at its 200-day moving average (MA) of $14.28, as well as support at its 50-day MA of $13.59.

Huntington Bancshares Incorporated is a multi-state bank holding company. The Company's subsidiaries provide full-service commercial and consumer banking services, mortgage banking, automobile financing, equipment leasing, investment management, trust, brokerage, customized insurance service programs, and other financial products and services.

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

Keywords: bearish inside day candle huntington banc

Ticker(s): HBAN