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Possible Bearish Inside Day Candle Pattern Detected for Tfs Financial Co (NASDAQ:TFSL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tfs Financial Co (NASDAQ:TFSL) based on the price action in the company's shares. Yesterday's price range of $14.65 and $15.16 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 Tfs Financial Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

TFS Financial Corporation is the holding company. The Bank attracts deposits from the general public and originates a variety of loans. Third Federal operates throughout Ohio and Florida.

In the past 52 weeks, Tfs Financial Co share prices have been bracketed by a low of $12.65 and a high of $22.47 and closed yesterday at $14.71, 16% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 2.4%.

Potential upside of 19.0% exists for Tfs Financial Co, based on a current level of $14.71 and analysts' average consensus price target of $17.50. Tfs Financial Co shares should first meet resistance at the 50-day moving average (MA) of $15.50 and find additional resistance at the 200-day MA of $18.28.

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

Keywords: bearish am inside day candle tfs financial co

Ticker(s): TFSL