• Return to Headlines

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

By Amy Schwartz

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 $20.49 and $20.74 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.

Santander Consum share prices have moved between a 52-week high of $20.79 and a 52-week low of $12.68 and are now trading 62% above that low price at $20.51 per share. The 200-day and 50-day moving averages have moved 0.57% higher and 0.54% higher over the past week, respectively.

Potential upside of 5.9% exists for Santander Consum, based on a current level of $20.51 and analysts' average consensus price target of $21.72. Santander Consum shares have support at the 50-day moving average (MA) of $19.30 and additional support at the 200-day MA of $17.90.

SmarTrend recommended that subscribers consider buying shares of Santander Consum on April 25th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.56. Since that recommendation, shares of Santander Consum have risen 12.0%. We continue to monitor SC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle santander consum

Ticker(s): SC