• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Us Bancorp (NYSE:USB)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Us Bancorp (NYSE:USB) based on the price action in the company's shares. Yesterday's price range of $49.06 and $49.96 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 Us Bancorp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Us Bancorp has overhead space with shares priced $49.84, or 13.5% below the average consensus analyst price target of $57.62. Us Bancorp shares should first meet resistance at the 50-day moving average (MA) of $50.67 and find additional resistance at the 200-day MA of $53.14.

U.S. Bancorp is a diversified financial services company that provides lending and depository services, cash management, foreign exchange and trust and investment management services. The Company also provides credit card services, mortgage banking, insurance, brokerage, and leasing. U.S Bancorp operates in the Midwest and Western United States.

In the past 52 weeks, Us Bancorp share prices have been bracketed by a low of $49.03 and a high of $58.50 and closed yesterday at $49.84, 2% above that low price. The 200-day and 50-day moving averages have moved 0.05% lower and 0.29% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Us Bancorp on March 19th, 2018 by issuing a Downtrend alert when the shares were trading at $52.83. Since that call, shares of Us Bancorp have fallen 7.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle us bancorp

Ticker(s): USB