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Possible Bullish Inside Day Candle Pattern Detected for Stifel Financial (NYSE:SF)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Stifel Financial (NYSE:SF) based on the price action in the company's shares. Yesterday's price range of $56.97 and $58.61 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 Stifel 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.

Stifel Financial Corp. is a financial services holding company whose subsidiaries serve individual and institutional clients in the U.S. and Europe. The Company's broker-dealer affiliates provide wealth management, investment banking, independent research, trading, investment advisory, and related financial services.

In the past 52 weeks, shares of Stifel Financial have traded between a low of $28.49 and a high of $68.76 and closed yesterday at $58.44, which is 105% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 0.9%.

There is potential upside of 21.1% for shares of Stifel Financial based on a current price of $58.44 and an average consensus analyst price target of $70.75. The stock should find initial support at its 200-day moving average (MA) of $39.96 and further support at its 50-day MA of $30.75.

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

Keywords: bullish am inside day candle stifel financial

Ticker(s): SF