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

By Shiri Gupta

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 $17.18 and $17.23 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.

Keycorp (NYSE:KEY) has potential upside of 34.7% based on a current price of $17.18 and analysts' consensus price target of $23.14. The stock should hit resistance at its 200-day moving average (MA) of $17.54, as well as support at its 50-day MA of $16.85.

In the past 52 weeks, Keycorp share prices have been bracketed by a low of $13.66 and a high of $21.91 and are now at $17.18, 26% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.5%.

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