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Possible Bullish Inside Day Candle Pattern Detected for First Niagara Financial Group (NASDAQ:FNFG)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in First Niagara Financial Group (NASDAQ:FNFG) based on the price action in the company's shares. Today's price range of $9.23 and $9.38 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 Niagara Financial Group 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 Niagara Financial Group, Inc. is a bank holding company. The Banks provide an array of deposit products and loans, as well as insurance, leasing, investment advisory services, insurance agency services, and trust services.

First Niagara Financial Group (NASDAQ:FNFG) has potential upside of 15.1% based on a current price of $9.29 and analysts' consensus price target of $10.70. First Niagara Financial Group shares should first meet resistance at the 50-day moving average (MA) of $9.94 and find additional resistance at the 200-day MA of $10.01.

First Niagara Financial Group share prices have moved between a 52-week high of $11.22 and a 52-week low of $8.54 and are now trading 9% above that low price at $9.29 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.9%.

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

Keywords: bullish inside day candle first niagara financial group

Ticker(s): FNFG