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Possible Bullish Inside Day Candle Pattern Detected for Lincoln National (NYSE:LNC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Lincoln National (NYSE:LNC) based on the price action in the company's shares. Yesterday's price range of $36.01 and $36.87 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 Lincoln National 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, Lincoln National has traded in a range of $30.39 to $62.08 and closed yesterday at $36.77, 21% above that low. The 200-day and 50-day moving averages have moved 0.67% lower and 1.34% higher over the past week, respectively.

Potential upside of 68.4% exists for Lincoln National, based on a current level of $36.77 and analysts' average consensus price target of $61.93. Lincoln National shares should first meet resistance at the 50-day moving average (MA) of $40.44 and find additional resistance at the 200-day MA of $46.91.

Lincoln National Corporation owns and operates wealth accumulation and protection businesses. The Company sells a wide range of products including institutional and/or retail fixed and indexed annuities, variable annuities, universal life insurance, variable universal life insurance, term life insurance, mutual funds, and managed accounts.

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

Keywords: bullish am inside day candle lincoln national

Ticker(s): LNC