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Possible Bearish Inside Day Candle Pattern Detected for Svb Financial Gr (NASDAQ:SIVB)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Svb Financial Gr (NASDAQ:SIVB) based on the price action in the company's shares. Today's price range of $161.71 and $173.86 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 Svb Financial Gr may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

SVB Financial Group is the holding company for Silicon Valley Bank. The Bank is a commercial bank that serves emerging growth and middle-market growth companies in targeted niches, focusing on the technology and life sciences industries. Silicon Valley operates offices throughout the Silicon Valley and other areas of California, as well as in other states.

In the past 52 weeks, Svb Financial Gr share prices have been bracketed by a low of $127.39 and a high of $270.95 and are now at $168.13, 32% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 3.4%.

Svb Financial Gr (NASDAQ:SIVB) has potential upside of 87.3% based on a current price of $168.13 and analysts' consensus price target of $314.89. The stock should run into initial resistance at its 200-day moving average (MA) of $221.28 and subsequent resistance at its 50-day MA of $227.91.

SmarTrend is tracking the current trend status for Svb Financial Gr and will alert subscribers who have SIVB in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle svb financial gr

Ticker(s): SIVB