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Possible Bullish Inside Day Candle Pattern Detected for Zions Bancorporation (NASDAQ:ZION)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Zions Bancorporation (NASDAQ:ZION) based on the price action in the company's shares. Today's price range of $23.86 and $24.50 is within yesterday'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 Zions Bancorporation may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Zions Bancorporation is a bank holding company that operates full-service banking offices in western United States. The Company also offers an array of investment, mortgage, insurance, and electronic commerce services. In addition, Zions provides financing solutions for small businesses across the United States.

In the past 52 weeks, Zions Bancorporation share prices have been bracketed by a low of $13.18 and a high of $33.33 and are now at $24.11, 83% above that low price. The 200-day and 50-day moving averages have moved 0.33% lower and 1.69% higher over the past week, respectively.

Zions Bancorporation (NASDAQ:ZION) has potential upside of 37.4% based on a current price of $24.11 and analysts' consensus price target of $33.12. Zions Bancorporation shares should first meet resistance at the 50-day moving average (MA) of $24.91 and find additional resistance at the 200-day MA of $26.74.

SmarTrend is monitoring the recent change of momentum in Zions Bancorporation. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Zions Bancorporation in search of a potential trend change.

Keywords: bullish inside day candle zions bancorporation

Ticker(s): ZION