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Possible Bullish Inside Day Candle Pattern Detected for Huntington Banc (NASDAQ:HBAN)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Huntington Banc (NASDAQ:HBAN) based on the price action in the company's shares. Yesterday's price range of $12.97 and $13.19 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. Traders and investors interested in shares of Huntington Banc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Huntington Bancshares Incorporated is a multi-state bank holding company. The Company's subsidiaries provide full-service commercial and consumer banking services, mortgage banking, automobile financing, equipment leasing, investment management, trust, brokerage, customized insurance service programs, and other financial products and services.

Potential upside of 35.8% exists for Huntington Banc, based on a current level of $12.65 and analysts' average consensus price target of $17.18. The stock should find initial resistance at its 200-day moving average (MA) of $14.00 and further resistance at its 50-day MA of $14.35.

In the past 52 weeks, Huntington Banc share prices have been bracketed by a low of $12.14 and a high of $15.63 and closed yesterday at $12.65, 4% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1%.

SmarTrend is tracking the current trend status for Huntington Banc and will alert subscribers who have HBAN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle huntington banc

Ticker(s): HBAN