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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 $13.35 and $13.35 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.

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 $13.35, 20% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.4%.

Potential upside of 28.7% exists for Huntington Banc, based on a current level of $13.35 and analysts' average consensus price target of $17.18. The stock should run into initial resistance at its 50-day moving average (MA) of $13.38 and subsequent resistance at its 200-day MA of $13.94.

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

Keywords: bearish inside day candle huntington banc

Ticker(s): HBAN