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Possible Bearish Inside Day Candle Pattern Detected for Us Bancorp (NYSE:USB)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Us Bancorp (NYSE:USB) based on the price action in the company's shares. Today's price range of $56.79 and $57.24 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 Us Bancorp 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 Us Bancorp have traded between a low of $38.48 and a high of $57.69 and are now at $57.18, which is 49% above that low price. The 200-day and 50-day moving averages have moved 0.17% lower and 0.58% higher over the past week, respectively.

U.S. Bancorp is a diversified financial services company that provides lending and depository services, cash management, foreign exchange and trust and investment management services. The Company also provides credit card services, mortgage banking, insurance, brokerage, and leasing. U.S Bancorp operates in the Midwest and Western United States.

Based on a current price of $57.18, Us Bancorp is currently 1.7% above its average consensus analyst price target of $56.22. Us Bancorp shares have support at the 200-day moving average (MA) of $41.81 and additional support at the 50-day MA of $41.01.

SmarTrend recommended that subscribers consider buying shares of Us Bancorp on November 29th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.16. Since that recommendation, shares of Us Bancorp have risen 5.7%. We continue to monitor USB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle us bancorp

Ticker(s): USB