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

By Nick Russo

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 $261.93 and $263.61 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 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 share prices have moved between a 52-week high of $270.39 and a 52-week low of $183.04 and closed yesterday at 46% above that low price at $266.99 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

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.

Svb Financial Gr has overhead space with shares priced $266.99, or 15.2% below the average consensus analyst price target of $314.89. Svb Financial Gr shares have support at the 50-day moving average (MA) of $252.49 and additional support at the 200-day MA of $225.48.

SmarTrend is tracking the current trend status for Svb Financial Gr and will alert subscribers who have SIVB in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle svb financial gr

Ticker(s): SIVB