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Possible Bearish Inside Day Candle Pattern Detected for Slm Corp (NASDAQ:SLM)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Slm Corp (NASDAQ:SLM) based on the price action in the company's shares. Yesterday's price range of $11.22 and $11.65 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 Slm Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Slm Corp share prices have been bracketed by a low of $7.76 and a high of $11.84 and closed yesterday at $11.48, 48% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

SLM Corporation, commonly known as Sallie Mae, provides education funding, originating and servicing of U.S. government guaranteed and private student loans. The Company, through its subsidiaries, also provides debt management services and business and technical products to a range of clients including colleges, universities, and loan guarantors.

There is potential upside of 32.1% for shares of Slm Corp based on a current price of $11.48 and an average consensus analyst price target of $15.17. Slm Corp shares have support at the 200-day moving average (MA) of $9.21 and additional support at the 50-day MA of $8.86.

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

Keywords: bearish am inside day candle slm corp

Ticker(s): SLM