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Possible Bearish Inside Day Candle Pattern Detected for Keycorp (NYSE:KEY)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Keycorp (NYSE:KEY) based on the price action in the company's shares. Today's price range of $17.39 and $17.40 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 Keycorp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

KeyCorp is a financial services holding company. The Company provides a wide range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate, and institutional clients.

In the past 52 weeks, shares of Keycorp have traded between a low of $13.66 and a high of $22.40 and are now at $17.39, which is 27% 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 advanced 1.2%.

Potential upside of 33.1% exists for Keycorp, based on a current level of $17.39 and analysts' average consensus price target of $23.14. The stock should find resistance at its 200-day moving average (MA) of $18.70, as well as support at its 50-day MA of $16.80.

SmarTrend recommended that subscribers consider buying shares of Keycorp on January 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $15.49. Since that recommendation, shares of Keycorp have risen 12.5%. We continue to monitor KEY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle keycorp

Ticker(s): KEY