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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. Today's price range of $39.94 and $40.33 is within yesterday'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.

In the past 52 weeks, Bankunited Inc share prices have been bracketed by a low of $30.37 and a high of $44.97 and are now at $40.16, 32% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

Bankunited Inc has overhead space with shares priced $40.16, or 12.6% below the average consensus analyst price target of $45.96. Bankunited Inc shares should encounter resistance at the 50-day moving average (MA) of $42.23 and support at its 200-day MA of $39.79.

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 inside day candle bankunited inc

Ticker(s): BKU