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Possible Bullish Inside Day Candle Pattern Detected for Trustco Bank Ny (NASDAQ:TRST)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Trustco Bank Ny (NASDAQ:TRST) based on the price action in the company's shares. Yesterday's price range of $5.95 and $6.04 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 Trustco Bank Ny may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Trustco Bank Ny share prices have been bracketed by a low of $4.30 and a high of $9.10 and closed yesterday at $5.96, 39% above that low price. The 200-day and 50-day moving averages have moved 0.41% lower and 1.77% lower over the past week, respectively.

There is potential upside of 51.0% for shares of Trustco Bank Ny based on a current price of $5.96 and an average consensus analyst price target of $9.00. The stock should hit resistance at its 200-day moving average (MA) of $7.64, as well as support at its 50-day MA of $5.80.

TrustCo Bank Corp NY operates a bank holding company. The Company, through its subsidiaries, provides general banking services to individuals, partnerships, and corporations. TrustCo Bank serves customers in the United States.

SmarTrend is tracking the current trend status for Trustco Bank Ny and will alert subscribers who have TRST in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle trustco bank ny

Ticker(s): TRST