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Possible Bearish Inside Day Candle Pattern Detected for Regions Financia (NYSE:RF)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Regions Financia (NYSE:RF) based on the price action in the company's shares. Today's price range of $15.50 and $15.56 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 Regions Financia may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Regions Financial Corporation is a regional multi-bank holding company. The Company provides mortgage banking, credit life insurance, leasing, commercial accounts receivable factoring, specialty mortgage financing, and securities brokerage services. Regions provides banking services throughout the South, Midwest, and Eastern United States.

Regions Financia (NYSE:RF) has potential upside of 30.5% based on a current price of $15.56 and analysts' consensus price target of $20.31. Regions Financia shares should encounter resistance at the 200-day moving average (MA) of $16.68 and support at the 50-day MA of $15.40.

In the past 52 weeks, Regions Financia share prices have been bracketed by a low of $12.39 and a high of $19.99 and are now at $15.56, 26% above that low price. The 200-day and 50-day moving averages have moved 0.5% lower and 0.18% lower over the past week, respectively.

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

Keywords: bearish inside day candle regions financia

Ticker(s): RF