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Possible Bearish Inside Day Candle Pattern Detected for Citizens Financi (NYSE:CFG)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Citizens Financi (NYSE:CFG) based on the price action in the company's shares. Yesterday's price range of $19.25 and $19.94 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. Owners of Citizens Financi may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Citizens Financi share prices have moved between a 52-week high of $41.29 and a 52-week low of $14.12 and closed yesterday at 37% above that low price at $19.29 per share. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 4.3%.

Potential upside of 154.5% exists for Citizens Financi, based on a current level of $19.29 and analysts' average consensus price target of $49.10. The stock should run into initial resistance at its 50-day moving average (MA) of $25.45 and subsequent resistance at its 200-day MA of $33.90.

Citizens Financial Group, Inc. provides a full range of commercial banking services for retail and Institutional customers. The Bank offers consumer loans, commercial loans, mortgage loans, deposit products, internet banking, and trust services.

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

Keywords: bearish am inside day candle citizens financi

Ticker(s): CFG