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Possible Bullish Inside Day Candle Pattern Detected for Cvb Financial (NASDAQ:CVBF)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cvb Financial (NASDAQ:CVBF) based on the price action in the company's shares. Yesterday's price range of $22.23 and $22.64 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 Cvb Financial may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Cvb Financial has traded in a range of $15.25 to $25.49 and closed yesterday at $22.55, 48% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.7%.

CVB Financial Corp. operates as a bank holding company. The Company, through its subsidiaries, offers financial products and services such as savings accounts, personal and business loans, debit and credit cards, letter of credit, certificate of deposits, mortgages, equipment financing, cash management, and online banking.

There is potential upside of 10.9% for shares of Cvb Financial based on a current price of $22.55 and an average consensus analyst price target of $25.00. The stock should find initial support at its 50-day moving average (MA) of $16.97 and further support at its 200-day MA of $16.79.

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

Keywords: bullish am inside day candle cvb financial

Ticker(s): CVBF