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

By Amy Schwartz

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 $39.87 and $40.34 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.

In the past 52 weeks, shares of Bankunited Inc have traded between a low of $30.37 and a high of $44.97 and closed yesterday at $39.93, which is 31% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.

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.

Potential upside of 15.1% exists for Bankunited Inc, based on a current level of $39.93 and analysts' average consensus price target of $45.96. The stock should find resistance at its 50-day moving average (MA) of $42.22, as well as support at its 200-day MA of $39.81.

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