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Possible Bearish Inside Day Candle Pattern Detected for Simmons First -A (NASDAQ:SFNC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Simmons First -A (NASDAQ:SFNC) based on the price action in the company's shares. Yesterday's price range of $27.12 and $27.37 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 Simmons First -A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Simmons First National Corporation is a multibank holding company. The Bank offer various loans, credit card services, checking and savings accounts, personal and corporate trust services, and other products and services through offices located in Arkansas.

Potential upside of 23.7% exists for Simmons First -A, based on a current level of $27.39 and analysts' average consensus price target of $33.88. Simmons First -A shares should encounter resistance at the 200-day moving average (MA) of $28.79 and support at the 50-day MA of $25.34.

Simmons First -A share prices have moved between a 52-week high of $33.45 and a 52-week low of $22.64 and closed yesterday at 21% above that low price at $27.39 per share. The 200-day and 50-day moving averages have moved 0.14% lower and 0.02% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Simmons First -A on February 6th, 2018 by issuing a Downtrend alert when the shares were trading at $112.60. Since that call, shares of Simmons First -A have fallen 75.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle simmons first -a

Ticker(s): SFNC