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Possible Bearish Inside Day Candle Pattern Detected for Lincoln Natl Crp (NYSE:LNC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lincoln Natl Crp (NYSE:LNC) based on the price action in the company's shares. Yesterday's price range of $58.93 and $59.34 is within the prior day'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 Lincoln Natl Crp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 40.5% for shares of Lincoln Natl Crp based on a current price of $59.68 and an average consensus analyst price target of $83.86. The stock should find resistance at its 200-day moving average (MA) of $60.14, as well as support at its 50-day MA of $58.35.

Lincoln National Corporation is a financial services company headquartered in Radnor, PA, marketed as Lincoln Financial Group. The Company offers diverse solutions including annuities, life, group life, disability and dental insurance, employer-sponsored retirement plans, savings plans, and comprehensive financial planning and advisory services.

Over the past year, Lincoln Natl Crp has traded in a range of $50.81 to $67.52 and closed yesterday at $59.68, 17% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

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

Keywords: bearish am inside day candle lincoln natl crp

Ticker(s): LNC