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

By James Quinn

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. Today's price range of $11.31 and $11.42 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 Slm Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Slm Corp (NASDAQ:SLM) has potential upside of 33.9% based on a current price of $11.33 and analysts' consensus price target of $15.17. Slm Corp shares should encounter resistance at the 50-day moving average (MA) of $11.61 and support at its 200-day MA of $11.30.

Over the past year, Slm Corp has traded in a range of $9.65 to $12.46 and is now at $11.33, 17% above that low. The 200-day and 50-day moving averages have moved 0.03% higher and 0.12% lower over the past week, respectively.

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.

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

Keywords: bearish inside day candle slm corp

Ticker(s): SLM