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Possible Bearish Inside Day Candle Pattern Detected for Glacier Bancorp (NASDAQ:GBCI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Glacier Bancorp (NASDAQ:GBCI) based on the price action in the company's shares. Yesterday's price range of $27.27 and $27.62 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 Glacier Bancorp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Glacier Bancorp, Inc. is a multi-bank holding company. The Banks attract deposits from the general public and use those funds to originate a variety of commercial and consumer loans.

Glacier Bancorp (NASDAQ:GBCI) has potential upside of 7.1% based on a current price of $27.60 and analysts' consensus price target of $29.57. Glacier Bancorp shares have support at the 200-day moving average (MA) of $26.20 and additional support at the 50-day MA of $25.44.

Glacier Bancorp share prices have moved between a 52-week high of $30.29 and a 52-week low of $21.90 and closed yesterday at 26% above that low price at $27.60 per share. The 200-day and 50-day moving averages have moved 0.32% lower and 0.63% higher over the past week, respectively.

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

Keywords: bearish am inside day candle glacier bancorp

Ticker(s): GBCI