• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for First Republic B (NYSE:FRC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in First Republic B (NYSE:FRC) based on the price action in the company's shares. Yesterday's price range of $100.72 and $101.70 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 Republic B 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 Republic B have traded between a low of $79.42 and a high of $106.75 and closed yesterday at $101.63, which is 28% above that low price. The 200-day and 50-day moving averages have moved 0.06% higher and 0.27% higher over the past week, respectively.

Based on a current price of $101.63, First Republic B is currently 2.6% above its average consensus analyst price target of $99.00. The stock should find resistance at its 50-day moving average (MA) of $102.31, as well as support at its 200-day MA of $97.14.

First Republic Bank and its subsidiaries provide private banking, private business banking and private wealth management in urban, coastal markets in the U.S. First Republic delivers relationship-based service by providing a single point of contact for all of its services.

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

Keywords: bullish am inside day candle first republic b

Ticker(s): FRC