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

By Nick Russo

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 $89.85 and $91.27 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, First Republic B share prices have been bracketed by a low of $63.97 and a high of $105.52 and closed yesterday at $90.80, 42% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.1%.

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.

First Republic B has overhead space with shares priced $90.80, or 6.6% below the average consensus analyst price target of $97.26. The stock should find initial support at its 50-day moving average (MA) of $67.41 and further support at its 200-day MA of $64.87.

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