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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Wintrust Finl (NASDAQ:WTFC) based on the price action in the company's shares. Yesterday's price range of $64.37 and $64.90 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 Finl 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 Corporation is a multi-bank holding company providing community-based banking services in various suburbs of Chicago, Illinois. The Banks provides 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.

Potential upside of 49.9% exists for Wintrust Finl, based on a current level of $64.50 and analysts' average consensus price target of $96.70. Wintrust Finl shares should first meet resistance at the 50-day moving average (MA) of $67.63 and find additional resistance at the 200-day MA of $67.76.

Over the past year, Wintrust Finl has traded in a range of $51.66 to $80.52 and closed yesterday at $64.50, 25% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.2%.

SmarTrend is tracking the current trend status for Wintrust Finl 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 finl

Ticker(s): WTFC