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

By Nick Russo

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 $50.99 and $51.45 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 (NYSE:USB) has potential upside of 16.1% based on a current price of $49.65 and analysts' consensus price target of $57.62. The stock should run into initial resistance at its 200-day moving average (MA) of $55.04 and subsequent resistance at its 50-day MA of $56.13.

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, shares of Us Bancorp have traded between a low of $47.57 and a high of $61.11 and closed yesterday at $49.65, which is 4% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.9% while the 200-day MA has remained constant.

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

Keywords: bullish am inside day candle us bancorp

Ticker(s): USB