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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 $98.44 and $99.40 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.

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 (NYSE:FRC) defies analysts with a current price ($99.11) 0.1% above its average consensus price target of $99.00. The stock should find resistance at its 50-day moving average (MA) of $99.94, as well as support at its 200-day MA of $96.97.

In the past 52 weeks, First Republic B share prices have been bracketed by a low of $79.42 and a high of $106.75 and closed yesterday at $99.11, 25% above that low price. The 200-day and 50-day moving averages have moved 0.03% lower and 0.78% higher over the past week, respectively.

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

Keywords: bullish am inside day candle first republic b

Ticker(s): FRC