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

By James Quinn

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 $17.96 and $18.06 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.

In the past 52 weeks, shares of Keycorp have traded between a low of $10.21 and a high of $19.53 and are now at $18.03, which is 77% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.0%.

Keycorp has overhead space with shares priced $18.03, or 13.2% below the average consensus analyst price target of $20.77. The stock should discover initial support at its 200-day moving average (MA) of $12.56 and subsequent support at its 50-day MA of $11.43.

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.

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

Keywords: bearish inside day candle keycorp

Ticker(s): KEY