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Possible Bullish Inside Day Candle Pattern Detected for Provident Financ (NYSE:PFS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Provident Financ (NYSE:PFS) based on the price action in the company's shares. Yesterday's price range of $25.26 and $25.52 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 Provident Financ may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Provident Financial Services, Inc. is a bank holding company.

Provident Financ has overhead space with shares priced $25.46, or 12.5% below the average consensus analyst price target of $29.10. Provident Financ shares should first meet resistance at the 200-day moving average (MA) of $25.68 and find additional resistance at the 50-day MA of $26.43.

Over the past year, Provident Financ has traded in a range of $22.22 to $29.12 and closed yesterday at $25.46, 15% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.

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

Keywords: bullish am inside day candle provident financ

Ticker(s): PFS