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Possible Bullish Inside Day Candle Pattern Detected for Mb Financial (NASDAQ:MBFI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Mb Financial (NASDAQ:MBFI) based on the price action in the company's shares. Yesterday's price range of $40.66 and $41.64 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 Mb 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.

MB Financial, Inc. is the holding company for MB Financial Bank, N.A., a commercial bank serving middle market businesses and individuals. The Bank offers a range of products and services through branches located in Illinois.

Mb Financial (NASDAQ:MBFI) has potential upside of 10.1% based on a current price of $41.44 and analysts' consensus price target of $45.62. Mb Financial shares have support at the 50-day moving average (MA) of $32.93 and additional support at the 200-day MA of $32.51.

In the past 52 weeks, shares of Mb Financial have traded between a low of $32.72 and a high of $48.47 and closed yesterday at $41.44, which is 27% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

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

Keywords: bullish am inside day candle mb financial

Ticker(s): MBFI