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Possible Bearish Inside Day Candle Pattern Detected for First American F (NYSE:FAF)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in First American F (NYSE:FAF) based on the price action in the company's shares. Yesterday's price range of $45.07 and $46.74 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 First American F may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, First American F share prices have been bracketed by a low of $29.36 and a high of $66.78 and closed yesterday at $46.38, 58% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1.6%.

First American Financial Corporation provides insurance services. The Company offers title insurance, property and casualty insurance, specialty insurance, and financial services. First American Financial serves individuals and businesses throughout the United States.

First American F has overhead space with shares priced $46.38, or 29.5% below the average consensus analyst price target of $65.80. The stock should find initial resistance at its 50-day moving average (MA) of $46.40 and further resistance at its 200-day MA of $56.72.

SmarTrend is tracking the current trend status for First American F and will alert subscribers who have FAF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle first american f

Ticker(s): FAF