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

By James Quinn

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 $15.85 and $16.04 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 National Corporation, through its subsidiaries, provides a range of financial services. The Company offers a variety of commercial banking services and also conducts mortgage banking, capital markets, and transaction processing.

In the past 52 weeks, shares of First Horizon Na have traded between a low of $13.30 and a high of $17.42 and closed yesterday at $15.90, which is 20% above that low price. The 200-day and 50-day moving averages have moved 0.05% higher and 0.01% higher over the past week, respectively.

Potential upside of 40.3% exists for First Horizon Na, based on a current level of $15.90 and analysts' average consensus price target of $22.31. The stock should hit resistance at its 50-day moving average (MA) of $16.43, as well as support at its 200-day MA of $15.73.

SmarTrend recommended that subscribers consider buying shares of First Horizon Na on July 1st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.98. Since that recommendation, shares of First Horizon Na have risen 5.6%. We continue to monitor FHN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle first horizon na

Ticker(s): FHN