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Possible Bearish Inside Day Candle Pattern Detected for Green Dot Corp-A (NYSE:GDOT)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Green Dot Corp-A (NYSE:GDOT) based on the price action in the company's shares. Today's price range of $61.30 and $62.09 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 Green Dot Corp-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Green Dot Corporation operates as a bank holding company that offers personal banking products and services. The Company provides prepaid debit card products, prepaid card reloading services, and mobile banking accounts. Green Dot offers its products and services to consumers across the United States via retail, online, and digital distribution channels.

In the past 52 weeks, shares of Green Dot Corp-A have traded between a low of $56.23 and a high of $93.00 and are now at $61.30, which is 9% above that low price. The 200-day and 50-day moving averages have moved 0.18% lower and 0.7% lower over the past week, respectively.

Green Dot Corp-A has overhead space with shares priced $61.30, or 15.8% below the average consensus analyst price target of $72.77. The stock should run into initial resistance at its 50-day moving average (MA) of $62.93 and subsequent resistance at its 200-day MA of $76.15.

SmarTrend is tracking the current trend status for Green Dot Corp-A and will alert subscribers who have GDOT in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle green dot corp-a

Ticker(s): GDOT