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Possible Bearish Inside Day Candle Pattern Detected for Santander Consum (NYSE:SC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Santander Consum (NYSE:SC) based on the price action in the company's shares. Today's price range of $23.48 and $23.52 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 Santander Consum may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Santander Consumer USA Holdings Inc. provides automotive loans. The Company offers new car loans, used car loans, automobile refinance, and cash back refinance services.

Over the past year, Santander Consum has traded in a range of $16.10 to $23.66 and is now at $23.49, 46% above that low. The 200-day and 50-day moving averages have moved 0.18% higher and 0.48% higher over the past week, respectively.

Santander Consum (NYSE:SC) defies analysts with a current price ($23.49) 7.5% above its average consensus price target of $21.72. Santander Consum shares have support at the 50-day moving average (MA) of $22.15 and additional support at the 200-day MA of $20.26.

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

Keywords: bearish inside day candle santander consum

Ticker(s): SC