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Possible Bullish Inside Day Candle Pattern Detected for FNB (NYSE:FNB)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in FNB (NYSE:FNB) based on the price action in the company's shares. Today's price range of $12.52 and $12.63 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 FNB 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, FNB share prices have been bracketed by a low of $11.16 and a high of $14.80 and are now at $12.62, 13% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.4%.

F.N.B. Corporation is a financial services holding company. The Company, through its subsidiaries, provides a variety of financial services, primarily to consumers and small to medium-sized businesses. F.N.B.'s subsidiaries operate through a network of offices in Pennsylvania, northern and central Tennessee, and eastern Ohio.

Potential upside of 18.2% exists for FNB, based on a current level of $12.62 and analysts' average consensus price target of $14.92. The stock should find initial resistance at its 50-day moving average (MA) of $13.01 and further resistance at its 200-day MA of $13.05.

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

Keywords: bullish inside day candle

Ticker(s): FNB