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

By David Diaz

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 $19.59 and $19.70 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.

First Horizon National has overhead space with shares priced $19.70, or 7.8% below the average consensus analyst price target of $21.36. The stock should find initial support at its 200-day moving average (MA) of $13.98 and further support at its 50-day MA of $13.36.

Over the past year, First Horizon National has traded in a range of $11.51 to $20.84 and is now at $19.70, 71% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.0%.

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 recommended that subscribers consider buying shares of First Horizon National on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.50. Since that recommendation, shares of First Horizon National have risen 34.9%. We continue to monitor FHN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle first horizon national

Ticker(s): FHN