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Possible Bearish Inside Day Candle Pattern Detected for Trustmark Corp (NASDAQ:TRMK)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Trustmark Corp (NASDAQ:TRMK) based on the price action in the company's shares. Yesterday's price range of $29.07 and $29.24 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 Trustmark Corp 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 15.9% for shares of Trustmark Corp based on a current price of $29.17 and an average consensus analyst price target of $33.80. The stock should find initial resistance at its 50-day moving average (MA) of $30.17 and further resistance at its 200-day MA of $32.51.

Trustmark Corporation is the holding company for Trustmark National Bank. The Bank offers a variety of banking, investment, and insurance solutions to corporate, institutional, and individual customers in the States of Mississippi, Tennessee, Alabama, Florida, and Texas.

Over the past year, Trustmark Corp has traded in a range of $26.84 to $36.32 and closed yesterday at $29.17, 9% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

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

Keywords: bearish am inside day candle trustmark corp

Ticker(s): TRMK