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Possible Bullish Inside Day Candle Pattern Detected for Trustmark Corp (NASDAQ:TRMK)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Trustmark Corp (NASDAQ:TRMK) based on the price action in the company's shares. Yesterday's price range of $34.48 and $34.71 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 Trustmark Corp 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, Trustmark Corp share prices have been bracketed by a low of $26.84 and a high of $36.32 and closed yesterday at $34.50, 29% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has remained constant.

Trustmark Corp (NASDAQ:TRMK) defies analysts with a current price ($34.50) 2.0% above its average consensus price target of $33.80. Trustmark Corp shares have support at the 200-day moving average (MA) of $32.82 and additional support at the 50-day MA of $32.50.

Trustmark Corporation is the holding company for Trustmark National Bank. The Bank offers a variety of banking, investment, and insurance solutions to corporate, institutional, and individual customers in the States of Mississippi, Tennessee, Alabama, Florida, and Texas.

SmarTrend recommended that subscribers consider buying shares of Trustmark Corp on January 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.20. Since that recommendation, shares of Trustmark Corp have risen 17.5%. We continue to monitor TRMK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle trustmark corp

Ticker(s): TRMK