• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Wintrust Financial (NASDAQ:WTFC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Wintrust Financial (NASDAQ:WTFC) based on the price action in the company's shares. Yesterday's price range of $72.21 and $73.44 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 Wintrust 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.

Wintrust Financial share prices have moved between a 52-week high of $76.71 and a 52-week low of $37.96 and closed yesterday at 90% above that low price at $72.28 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has slid 0.2%.

There is potential upside of 2.0% for shares of Wintrust Financial based on a current price of $72.28 and an average consensus analyst price target of $73.73. The stock should discover initial support at its 200-day moving average (MA) of $48.60 and subsequent support at its 50-day MA of $46.14.

Wintrust Financial Corporation is a multi-bank holding company providing community-based banking services in various suburbs of Chicago, Illinois. The Banks provide a variety of commercial and personal financial services to individuals, businesses, local governmental units, and institutions. Wintrust also has a financing services subsidiary and a trust subsidiary.

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

Keywords: bullish am inside day candle wintrust financial

Ticker(s): WTFC