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Possible Bearish Inside Day Candle Pattern Detected for Servisfirst Banc (NASDAQ:SFBS)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Servisfirst Banc (NASDAQ:SFBS) based on the price action in the company's shares. Yesterday's price range of $34.64 and $34.64 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 Servisfirst Banc 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 28.0% for shares of Servisfirst Banc based on a current price of $34.64 and an average consensus analyst price target of $44.33. The stock should find resistance at its 200-day moving average (MA) of $38.30, as well as support at its 50-day MA of $34.38.

ServisFirst Bancshares Inc. operates as the holding company for ServisFirst Bank that provides consumer and commercial banking services. The Company offers various deposit products, such as demand, time, and savings deposits, as well as negotiable orders of withdrawal accounts, checking accounts, money market accounts, certificates of deposit, and IRA accounts.

Over the past year, Servisfirst Banc has traded in a range of $29.90 to $44.95 and closed yesterday at $34.64, 16% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.4%.

SmarTrend is monitoring the recent change of momentum in Servisfirst Banc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Servisfirst Banc in search of a potential trend change.

Keywords: bearish am inside day candle servisfirst banc

Ticker(s): SFBS