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Possible Bullish Inside Day Candle Pattern Detected for First Horizon Na (NYSE:FHN)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in First Horizon Na (NYSE:FHN) based on the price action in the company's shares. Yesterday's price range of $13.85 and $14.02 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 Horizon Na 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 Horizon Na has overhead space with shares priced $14.02, or 37.2% below the average consensus analyst price target of $22.31. The stock should find initial resistance at its 50-day moving average (MA) of $14.51 and further resistance at its 200-day MA of $15.63.

In the past 52 weeks, shares of First Horizon Na have traded between a low of $12.30 and a high of $19.75 and closed yesterday at $14.02, which is 14% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 0.6%.

First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services.

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

Keywords: bullish am inside day candle first horizon na

Ticker(s): FHN