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Possible Bullish Inside Day Candle Pattern Detected for Fifth Street Finance (NYSE:FSC)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Fifth Street Finance (NYSE:FSC) based on the price action in the company's shares. Today's price range of $5.47 and $5.54 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 Fifth Street Finance may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Fifth Street Finance Corporation lends to and invests in small- to medium-sized companies. The Company seeks to maximize the total return of its portfolio by generating current income from its debt investments and capital appreciation from its equity investments.

Fifth Street Finance has overhead space with shares priced $5.54, or 29.8% below the average consensus analyst price target of $7.89. The stock should find resistance at its 200-day moving average (MA) of $5.82, as well as support at its 50-day MA of $5.15.

Fifth Street Finance share prices have moved between a 52-week high of $7.19 and a 52-week low of $4.40 and are now trading 26% above that low price at $5.54 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.0%.

SmarTrend is tracking the current trend status for Fifth Street Finance and will alert subscribers who have FSC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle fifth street finance

Ticker(s): FSC