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Possible Bearish Inside Day Candle Pattern Detected for Bankunited Inc (NYSE:BKU)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Bankunited Inc (NYSE:BKU) based on the price action in the company's shares. Yesterday's price range of $33.75 and $34.13 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. Owners of Bankunited Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

BankUnited, Inc. is a bank holding company. The Company, through its subsidiaries, provides a range of financial products and services, such as personal, commercial, and business banking.

Bankunited Inc has overhead space with shares priced $33.82, or 26.4% below the average consensus analyst price target of $45.96. Bankunited Inc shares should first meet resistance at the 200-day moving average (MA) of $34.57 and find additional resistance at the 50-day MA of $34.87.

In the past 52 weeks, shares of Bankunited Inc have traded between a low of $28.05 and a high of $44.97 and closed yesterday at $33.82, which is 21% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has slid 0.3%.

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

Keywords: bearish am inside day candle bankunited inc

Ticker(s): BKU