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

By Amy Schwartz

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. Yesterday's price range of $254.57 and $256.93 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 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, shares of Svb Financial Gr have traded between a low of $183.04 and a high of $259.95 and closed yesterday at $256.11, which is 40% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

There is potential upside of 23.0% for shares of Svb Financial Gr based on a current price of $256.11 and an average consensus analyst price target of $314.89. Svb Financial Gr shares have support at the 50-day moving average (MA) of $243.17 and additional support at the 200-day MA of $224.40.

SmarTrend recommended that subscribers consider buying shares of Svb Financial Gr on December 11th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $240.09. Since that recommendation, shares of Svb Financial Gr have risen 7.6%. We continue to monitor SIVB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle svb financial gr

Ticker(s): SIVB