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

By Nick Russo

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 $21.48 and $21.79 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.

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.

In the past 52 weeks, shares of Cvb Financial have traded between a low of $15.25 and a high of $24.63 and closed yesterday at $21.71, which is 42% above that low price. The 200-day and 50-day moving averages have moved 0.15% lower and 0.70% higher over the past week, respectively.

There is potential upside of 2.9% for shares of Cvb Financial based on a current price of $21.71 and an average consensus analyst price target of $22.33. 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 tracking the current trend status for Cvb Financial and will alert subscribers who have CVBF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle cvb financial

Ticker(s): CVBF