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Possible Bearish Inside Day Candle Pattern Detected for Tfs Financial Co (NASDAQ:TFSL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tfs Financial Co (NASDAQ:TFSL) based on the price action in the company's shares. Yesterday's price range of $16.57 and $16.73 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 Tfs Financial Co 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, shares of Tfs Financial Co have traded between a low of $14.19 and a high of $17.00 and closed yesterday at $16.59, which is 17% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.2%.

Tfs Financial Co (NASDAQ:TFSL) has potential upside of 5.5% based on a current price of $16.59 and analysts' consensus price target of $17.50. The stock should find initial support at its 50-day moving average (MA) of $16.23 and further support at its 200-day MA of $15.65.

TFS Financial Corporation is the holding company. The Bank attracts deposits from the general public and originates a variety of loans. Third Federal operates throughout Ohio and Florida.

SmarTrend recommended that subscribers consider buying shares of Tfs Financial Co on November 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $15.80. Since that recommendation, shares of Tfs Financial Co have risen 6.2%. We continue to monitor TFSL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle tfs financial co

Ticker(s): TFSL