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Possible Bearish Inside Day Candle Pattern Detected for Lincoln Natl Crp (NYSE:LNC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lincoln Natl Crp (NYSE:LNC) based on the price action in the company's shares. Today's price range of $28.86 and $29.46 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. Owners of Lincoln Natl Crp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Lincoln Natl Crp share prices have moved between a 52-week high of $67.52 and a 52-week low of $16.11 and are now trading 81% above that low price at $29.19 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 6.6% while the 200-day MA has slid 1.4%.

Lincoln Natl Crp (NYSE:LNC) has potential upside of 187.3% based on a current price of $29.19 and analysts' consensus price target of $83.86. The stock should find initial resistance at its 50-day moving average (MA) of $35.61 and further resistance at its 200-day MA of $53.02.

Lincoln National Corporation is a financial services company headquartered in Radnor, PA, marketed as Lincoln Financial Group. The Company offers diverse solutions including annuities, life, group life, disability and dental insurance, employer-sponsored retirement plans, savings plans, and comprehensive financial planning and advisory services.

SmarTrend is tracking the current trend status for Lincoln Natl Crp and will alert subscribers who have LNC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle lincoln natl crp

Ticker(s): LNC