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Possible Bullish Inside Day Candle Pattern Detected for Svb Financial Gr (NASDAQ:SIVB)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Svb Financial Gr (NASDAQ:SIVB) based on the price action in the company's shares. Yesterday's price range of $212.93 and $216.27 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 Svb Financial Gr may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Svb Financial Gr has overhead space with shares priced $214.67, or 31.8% below the average consensus analyst price target of $314.89. The stock should find initial resistance at its 50-day moving average (MA) of $237.98 and further resistance at its 200-day MA of $269.48.

SVB Financial Group is the holding company for Silicon Valley Bank. The Bank is a commercial bank that serves emerging growth and middle-market growth companies in targeted niches, focusing on the technology and life sciences industries. Silicon Valley operates offices throughout the Silicon Valley and other areas of California, as well as in other states.

In the past 52 weeks, Svb Financial Gr share prices have been bracketed by a low of $177.70 and a high of $333.74 and closed yesterday at $214.67, 21% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.2%.

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

Keywords: bullish am inside day candle svb financial gr

Ticker(s): SIVB