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Possible Bullish Inside Day Candle Pattern Detected for Northwest Bancsh (NASDAQ:NWBI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Northwest Bancsh (NASDAQ:NWBI) based on the price action in the company's shares. Yesterday's price range of $16.83 and $17.01 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 Northwest Bancsh may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Northwest Bancshares, Inc. is a bank holding company. The Company's banking subsidiary provides a wide range of banking products and services, including deposit and savings accounts, loans, cash management services, and mobile banking.

In the past 52 weeks, shares of Northwest Bancsh have traded between a low of $15.50 and a high of $18.81 and closed yesterday at $17.07, which is 10% above that low price. The 200-day and 50-day moving averages have moved 0.06% lower and 0.27% lower over the past week, respectively.

Northwest Bancsh (NASDAQ:NWBI) defies analysts with a current price ($17.07) 4.8% above its average consensus price target of $16.25. The stock should run into initial resistance at its 200-day moving average (MA) of $17.51 and subsequent resistance at its 50-day MA of $17.60.

SmarTrend is tracking the current trend status for Northwest Bancsh and will alert subscribers who have NWBI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle northwest bancsh

Ticker(s): NWBI