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Possible Bullish Inside Day Candle Pattern Detected for Phh Corp (NYSE:PHH)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Phh Corp (NYSE:PHH) based on the price action in the company's shares. Yesterday's price range of $10.55 and $10.58 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 Phh Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Phh Corp have traded between a low of $8.01 and a high of $16.80 and closed yesterday at $10.56, which is 32% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.8% while the 50-day MA has advanced 0.5%.

PHH Corporation is an outsource provider of mortgage management services. The Company provides private label mortgage services to real estate brokers, financial institutions, credit unions, corporations, and government agencies, and integrated leasing and management solutions to operators of corporate, government, and service-related vehicle fleets.

Potential upside of 4.2% exists for Phh Corp, based on a current level of $10.56 and analysts' average consensus price target of $11.00. The stock should find initial resistance at its 50-day moving average (MA) of $11.59 and further resistance at its 200-day MA of $14.58.

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

Keywords: bullish am inside day candle phh corp

Ticker(s): PHH