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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 $17.02 and $17.02 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.

There is potential upside of 36.0% for shares of Keycorp based on a current price of $17.02 and an average consensus analyst price target of $23.14. The stock should hit resistance at its 200-day moving average (MA) of $18.21, as well as support at its 50-day MA of $16.85.

Over the past year, Keycorp has traded in a range of $13.66 to $21.91 and is now at $17.02, 25% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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

Keywords: bearish inside day candle keycorp

Ticker(s): KEY