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

By Shiri Gupta

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 $90.31 and $92.06 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.

Over the past year, First Republic B has traded in a range of $63.97 to $105.52 and closed yesterday at $91.84, 44% above that low. 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.

Potential upside of 5.9% exists for First Republic B, based on a current level of $91.84 and analysts' average consensus 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 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