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Possible Bullish Inside Day Candle Pattern Detected for Huntington Bancshares (NASDAQ:HBAN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Huntington Bancshares (NASDAQ:HBAN) based on the price action in the company's shares. Yesterday's price range of $8.19 and $8.42 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 Huntington Bancshares may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Huntington Bancshares has overhead space with shares priced $8.37, or 31.1% below the average consensus analyst price target of $12.16. The stock should find initial resistance at its 50-day moving average (MA) of $9.67 and further resistance at its 200-day MA of $10.40.

In the past 52 weeks, shares of Huntington Bancshares have traded between a low of $7.83 and a high of $11.90 and closed yesterday at $8.37, which is 7% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.3%.

Huntington Bancshares Incorporated is a multi-state bank holding company. The Company's subsidiaries provide full-service commercial and consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance service programs, and other financial products and services.

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

Keywords: bullish am inside day candle huntington bancshares

Ticker(s): HBAN