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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in First Horizon National (NYSE:FHN) based on the price action in the company's shares. Today's price range of $18.13 and $18.27 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 First Horizon National may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of First Horizon National have traded between a low of $11.51 and a high of $20.84 and are now at $18.25, which is 59% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.3%.

First Horizon National has overhead space with shares priced $18.25, or 14.5% below the average consensus analyst price target of $21.36. First Horizon National shares have support at the 200-day moving average (MA) of $13.98 and additional support at the 50-day MA of $13.36.

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.

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

Keywords: bullish inside day candle first horizon national

Ticker(s): FHN