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

By Shiri Gupta

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 $13.34 and $13.41 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.

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.

Huntington Banc has overhead space with shares priced $13.35, or 22.3% below the average consensus analyst price target of $17.18. The stock should find initial resistance at its 50-day moving average (MA) of $13.41 and further resistance at its 200-day MA of $14.09.

In the past 52 weeks, shares of Huntington Banc have traded between a low of $11.12 and a high of $16.52 and are now at $13.35, which is 20% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.2%.

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