• Return to Headlines

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

By James Quinn

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. Today's price range of $8.19 and $8.38 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 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.

Over the past year, Huntington Bancshares has traded in a range of $7.83 to $11.90 and is now at $8.30, 6% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.1%.

Huntington Bancshares (NASDAQ:HBAN) has potential upside of 46.4% based on a current price of $8.30 and analysts' consensus price target of $12.16. The stock should run into initial resistance at its 50-day moving average (MA) of $9.67 and subsequent resistance at its 200-day MA of $10.40.

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 inside day candle huntington bancshares

Ticker(s): HBAN