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Possible Bullish Inside Day Candle Pattern Detected for Fulton Financial (NASDAQ:FULT)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Fulton Financial (NASDAQ:FULT) based on the price action in the company's shares. Yesterday's price range of $15.25 and $15.93 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 Fulton Financial may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Fulton Financial has overhead space with shares priced $15.84, or 14.4% below the average consensus analyst price target of $18.50. The stock should run into initial resistance at its 50-day moving average (MA) of $17.27 and subsequent resistance at its 200-day MA of $17.61.

In the past 52 weeks, shares of Fulton Financial have traded between a low of $15.05 and a high of $19.55 and closed yesterday at $15.84, which is 5% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.9% while the 200-day MA has slid 0.3%.

Fulton Financial Corporation is a multi-bank holding company. The Banks offer a full range of general retail and commercial banking services, including deposits, loans, equipment leasing and financing, and credit cards. Fulton operates in Pennsylvania, Maryland, Delaware, and New Jersey.

SmarTrend recommended that its subscribers protect gains by selling shares of Fulton Financial on September 28th, 2018 by issuing a Downtrend alert when the shares were trading at $16.74. Since that call, shares of Fulton Financial have fallen 9.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle fulton financial

Ticker(s): FULT