• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Us Bancorp (NYSE:USB)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Us Bancorp (NYSE:USB) based on the price action in the company's shares. Yesterday's price range of $57.39 and $57.69 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 Us Bancorp 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 0.5% for shares of Us Bancorp based on a current price of $57.33 and an average consensus analyst price target of $57.62. The stock should find resistance at its 50-day moving average (MA) of $59.13, as well as support at its 200-day MA of $54.39.

Us Bancorp share prices have moved between a 52-week high of $61.11 and a 52-week low of $46.24 and closed yesterday at 24% above that low price at $57.33 per share. The 200-day and 50-day moving averages have moved 0.23% higher and 0.14% higher over the past week, respectively.

U.S. Bancorp is a diversified financial services company that provides lending and depository services, cash management, foreign exchange and trust and investment management services. The Company also provides credit card services, mortgage banking, insurance, brokerage, and leasing. U.S Bancorp operates in the Midwest and Western United States.

SmarTrend is monitoring the recent change of momentum in Us Bancorp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Us Bancorp in search of a potential trend change.

Keywords: bullish am inside day candle us bancorp

Ticker(s): USB