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Possible Bearish Inside Day Candle Pattern Detected for Legacytexas Fina (NASDAQ:LTXB)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Legacytexas Fina (NASDAQ:LTXB) based on the price action in the company's shares. Yesterday's price range of $43.25 and $43.63 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 Legacytexas Fina may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 3.1% exists for Legacytexas Fina, based on a current level of $43.63 and analysts' average consensus price target of $45.00. The stock should find initial support at its 200-day moving average (MA) of $40.95 and further support at its 50-day MA of $37.19.

In the past 52 weeks, Legacytexas Fina share prices have been bracketed by a low of $30.18 and a high of $47.18 and closed yesterday at $43.63, 45% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has remained constant.

LegacyTexas Financial Group, Inc. is a bank holding company. The Company, through its banking subsidiary, accepts deposits, makes loans, and provides other financial services for the general public.

SmarTrend recommended that subscribers consider buying shares of Legacytexas Fina on January 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $34.07. Since that recommendation, shares of Legacytexas Fina have risen 28.3%. We continue to monitor LTXB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle legacytexas fina

Ticker(s): LTXB