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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 $48.38 and $48.38 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.

Over the past year, Green Dot Corp-A has traded in a range of $41.67 to $93.00 and is now at $48.38, 16% above that low. The 200-day and 50-day moving averages have moved 1.11% lower and 2.02% lower over the past week, respectively.

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.

There is potential upside of 50.4% for shares of Green Dot Corp-A based on a current price of $48.38 and an average consensus analyst price target of $72.77. Green Dot Corp-A shares should first meet resistance at the 50-day moving average (MA) of $59.46 and find additional resistance at the 200-day MA of $74.14.

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

Keywords: bearish inside day candle green dot corp-a

Ticker(s): GDOT