• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for State Street (NYSE:STT)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in State Street (NYSE:STT) based on the price action in the company's shares. Today's price range of $77.67 and $78.14 is within yesterday'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 State Street may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

State Street Corporation services institutional investors and manages financial assets worldwide. The Company's products and services include custody, accounting, administration, daily pricing, international exchange services, cash management, financial asset management, securities lending, and investment advisory services.

State Street has overhead space with shares priced $78.01, or 9.1% below the average consensus analyst price target of $85.85. The stock should discover initial support at its 200-day moving average (MA) of $65.43 and subsequent support at its 50-day MA of $58.89.

Over the past year, State Street has traded in a range of $50.60 to $83.49 and is now at $78.01, 54% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.7%.

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

Keywords: bullish inside day candle State Street

Ticker(s): STT