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Possible Bullish Inside Day Candle Pattern Detected for BB&T (NYSE:BBT)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in BB&T (NYSE:BBT) based on the price action in the company's shares. Today's price range of $47.15 and $47.63 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. Traders and investors interested in shares of BB&T may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

BB&T Corporation operates banking offices in the Carolinas, Georgia, Virginia, Maryland, West Virginia, Kentucky, Alabama, Indiana, Washington D.C., Florida and Tennessee. The Company and its subsidiaries offer full-service commercial and retail banking, as well as insurance, retail brokerage, corporate finance, international banking, leasing, and trust services.

There is potential upside of 2.0% for shares of BB&T based on a current price of $47.60 and an average consensus analyst price target of $48.56. The stock should discover initial support at its 200-day moving average (MA) of $35.95 and subsequent support at its 50-day MA of $34.09.

In the past 52 weeks, BB&T share prices have been bracketed by a low of $29.95 and a high of $49.88 and are now at $47.60, 59% above that low price. The 200-day and 50-day moving averages have moved 0.37% lower and 0.52% higher over the past week, respectively.

SmarTrend is tracking the current trend status for BB&T and will alert subscribers who have BBT in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle BB&T

Ticker(s): BBT