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

By Nick Russo

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 $14.32 and $14.41 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 Financia share prices have moved between a 52-week high of $19.99 and a 52-week low of $12.39 and are now trading 16% above that low price at $14.32 per share. The 200-day and 50-day moving averages have moved 0.51% lower and 0.01% higher over the past week, respectively.

Regions Financia has overhead space with shares priced $14.32, or 29.5% below the average consensus analyst price target of $20.31. Regions Financia shares should first meet resistance at the 50-day moving average (MA) of $14.82 and find additional resistance at the 200-day MA of $15.94.

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.

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