• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Regions Financia (NYSE:RF)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Regions Financia (NYSE:RF) based on the price action in the company's shares. Yesterday's price range of $9.77 and $10.08 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 Regions Financia may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Regions Financial Corporation is a regional multi-bank holding company. The Company provides mortgage banking, credit life insurance, leasing, commercial accounts receivable factoring, specialty mortgage financing, and securities brokerage services. Regions provides banking services throughout the South, Midwest, and Eastern United States.

There is potential upside of 106.2% for shares of Regions Financia based on a current price of $9.85 and an average consensus analyst price target of $20.31. The stock should find initial resistance at its 50-day moving average (MA) of $10.11 and further resistance at its 200-day MA of $14.50.

In the past 52 weeks, shares of Regions Financia have traded between a low of $6.94 and a high of $17.54 and closed yesterday at $9.85, which is 42% above that low price. The 200-day and 50-day moving averages have moved 0.72% lower and 4.21% lower over the past week, respectively.

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

Keywords: bullish am inside day candle regions financia

Ticker(s): RF