• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for People'S United (:PBCT)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in People'S United (:PBCT) based on the price action in the company's shares. Today's price range of $15.79 and $15.97 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 People'S United 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 People'S United have traded between a low of $13.66 and a high of $18.65 and are now at $15.97, which is 17% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.9%.

People'S United (:PBCT) has potential upside of 24.9% based on a current price of $15.97 and analysts' consensus price target of $19.94. The stock should find resistance at its 200-day moving average (MA) of $16.21, as well as support at its 50-day MA of $15.59.

People's United Financial Inc. is a savings and loan holding company. The Company provides commercial, retail, and business banking, and wealth management services to individual, corporate, and municipal customers.

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

Keywords: bearish inside day candle :pbct people's united

Ticker(s): PBCT