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Possible Bearish Inside Day Candle Pattern Detected for Lendingclub Corp (NYSE:LC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lendingclub Corp (NYSE:LC) based on the price action in the company's shares. Today's price range of $3.36 and $3.36 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 Lendingclub Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

LendingClub Corporation provides internet financial services. The Company hosts an online financial community that brings together credit worthy borrowers and independent investors for their mutual benefits. LendingClub serves retail investors and borrowers in the United States.

There is potential upside of 50.0% for shares of Lendingclub Corp based on a current price of $3.36 and an average consensus analyst price target of $5.04. Lendingclub Corp shares should encounter resistance at the 200-day moving average (MA) of $3.41 and support at the 50-day MA of $3.14.

In the past 52 weeks, Lendingclub Corp share prices have been bracketed by a low of $2.46 and a high of $4.55 and are now at $3.36, 37% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.

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

Keywords: bearish inside day candle lendingclub corp

Ticker(s): LC