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Possible Bullish Inside Day Candle Pattern Detected for First Common Fin (NYSE:FCF)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in First Common Fin (NYSE:FCF) based on the price action in the company's shares. Yesterday's price range of $12.91 and $13.05 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 First Common Fin may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

First Commonwealth Financial Corporation is a bank holding company. The Company, through its subsidiaries, provides general banking business and offers a range of financial services including traditional retail banking services, such as savings, time deposits, mortgage, consumer installment, and commercial loans.

Over the past year, First Common Fin has traded in a range of $11.33 to $17.91 and closed yesterday at $13.05, 15% above that low. The 200-day and 50-day moving averages have moved 0.66% lower and 0.15% lower over the past week, respectively.

Potential upside of 26.4% exists for First Common Fin, based on a current level of $13.05 and analysts' average consensus price target of $16.50. The stock should find initial resistance at its 50-day moving average (MA) of $13.26 and further resistance at its 200-day MA of $14.09.

SmarTrend is tracking the current trend status for First Common Fin and will alert subscribers who have FCF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle first common fin

Ticker(s): FCF