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Possible Bullish Inside Day Candle Pattern Detected for Citizens Financi (NYSE:CFG)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Citizens Financi (NYSE:CFG) based on the price action in the company's shares. Yesterday's price range of $41.60 and $42.22 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. Traders and investors interested in shares of Citizens Financi may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Citizens Financi (NYSE:CFG) has potential upside of 17.2% based on a current price of $41.89 and analysts' consensus price target of $49.10. Citizens Financi shares should encounter resistance at the 50-day moving average (MA) of $42.49 and support at its 200-day MA of $40.46.

Citizens Financi share prices have moved between a 52-week high of $48.23 and a 52-week low of $31.51 and closed yesterday at 33% above that low price at $41.89 per share. The 200-day and 50-day moving averages have moved 0.25% higher and 0.51% lower over the past week, respectively.

Citizens Financial Group, Inc. provides a full range of commercial banking services for retail and Institutional customers. The Bank offers consumer loans, commercial loans, mortgage loans, deposit products, internet banking, and trust services.

SmarTrend recommended that its subscribers protect gains by selling shares of Citizens Financi on March 22nd, 2018 by issuing a Downtrend alert when the shares were trading at $43.70. Since that call, shares of Citizens Financi have fallen 4.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle citizens financi

Ticker(s): CFG