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Possible Bullish Inside Day Candle Pattern Detected for TCF Financial (NYSE:TCB)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in TCF Financial (NYSE:TCB) based on the price action in the company's shares. Today's price range of $13.02 and $13.17 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 TCF 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.

In the past 52 weeks, TCF Financial share prices have been bracketed by a low of $10.37 and a high of $17.29 and are now at $13.13, 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 0.5%.

TCF Financial Corporation is a national multibank financial holding company. The Bank offers a variety of products and services including business equipment leasing, annuity, and brokerage services.

There is potential upside of 25.6% for shares of TCF Financial based on a current price of $13.13 and an average consensus analyst price target of $16.50. TCF Financial shares should encounter resistance at the 200-day moving average (MA) of $14.03 and support at the 50-day MA of $12.54.

SmarTrend recommended that subscribers consider buying shares of TCF Financial on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.03. Since that recommendation, shares of TCF Financial have risen 7.9%. We continue to monitor TCB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle tcf financial

Ticker(s): TCB