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

By Amy Schwartz

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 $34.09 and $34.47 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 has overhead space with shares priced $34.47, or 29.8% below the average consensus analyst price target of $49.10. Citizens Financi shares should first meet resistance at the 50-day moving average (MA) of $34.77 and find additional resistance at the 200-day MA of $35.97.

In the past 52 weeks, Citizens Financi share prices have been bracketed by a low of $27.62 and a high of $42.87 and closed yesterday at $34.47, 25% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has slid 0.4%.

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

Keywords: bullish am inside day candle citizens financi

Ticker(s): CFG