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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish 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 $13.00 and $13.46 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 Tfs Financial Co may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 33.4% for shares of Tfs Financial Co based on a current price of $13.12 and an average consensus analyst price target of $17.50. The stock should run into initial resistance at its 200-day moving average (MA) of $18.80 and subsequent resistance at its 50-day MA of $19.23.

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, shares of Tfs Financial Co have traded between a low of $13.54 and a high of $22.47 and closed yesterday at $13.12, which is -3% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.7% while the 200-day MA has slid 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Tfs Financial Co on February 28th, 2020 by issuing a Downtrend alert when the shares were trading at $20.44. Since that call, shares of Tfs Financial Co have fallen 37.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle tfs financial co

Ticker(s): TFSL