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

By James Quinn

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 $11.94 and $12.18 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.

Over the past year, TCF Financial has traded in a range of $10.37 to $17.29 and is now at $12.10, 17% above that low. 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.

TCF Financial (NYSE:TCB) has potential upside of 36.4% based on a current price of $12.10 and analysts' consensus price target of $16.50. The stock should run into initial resistance at its 50-day moving average (MA) of $12.54 and subsequent resistance at its 200-day MA of $14.03.

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

Keywords: bullish inside day candle tcf financial

Ticker(s): TCB