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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Keycorp (NYSE:KEY) based on the price action in the company's shares. Yesterday's price range of $10.35 and $10.70 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 Keycorp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

KeyCorp is a financial services holding company. The Company provides a wide range of retail and commercial banking, commercial leasing, investment management, consumer finance and investment banking products and services to individual, corporate and institutional clients.

Keycorp (NYSE:KEY) has potential upside of 40.7% based on a current price of $10.67 and analysts' consensus price target of $15.02. Keycorp shares should first meet resistance at the 50-day moving average (MA) of $11.43 and find additional resistance at the 200-day MA of $12.56.

Over the past year, Keycorp has traded in a range of $9.88 to $15.70 and closed yesterday at $10.67, 8% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.5%.

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

Keywords: bullish am inside day candle keycorp

Ticker(s): KEY