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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Trustmark (NASDAQ:TRMK) based on the price action in the company's shares. Yesterday's price range of $26.86 and $27.11 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 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, shares of Trustmark have traded between a low of $19.75 and a high of $28.70 and closed yesterday at $26.92, which is 36% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

Trustmark (NASDAQ:TRMK) defies analysts with a current price ($26.92) 9.4% above its average consensus price target of $24.40. The stock should discover initial support at its 50-day moving average (MA) of $23.29 and subsequent support at its 200-day MA of $23.26.

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 Mississippi and Tennessee.

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

Keywords: bullish am inside day candle Trustmark

Ticker(s): TRMK