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Possible Bearish Inside Day Candle Pattern Detected for Seacoast Bank/Fl (NASDAQ:SBCF)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Seacoast Bank/Fl (NASDAQ:SBCF) based on the price action in the company's shares. Yesterday's price range of $28.17 and $28.86 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 Seacoast Bank/Fl may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Seacoast Bank/Fl share prices have moved between a 52-week high of $34.95 and a 52-week low of $21.73 and closed yesterday at 33% above that low price at $28.83 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has risen 0.2%.

Seacoast Banking Corporation of Florida operates as a bank holding company. The Bank, through its subsidiaries, offers a full range of banking and investment services, including personal and business deposit products, personal, commercial, and mortgage loans, wealth management services, and treasury management solutions.

Potential upside of 5.5% exists for Seacoast Bank/Fl, based on a current level of $28.83 and analysts' average consensus price target of $30.42. Seacoast Bank/Fl shares should encounter resistance at the 200-day moving average (MA) of $29.15 and support at the 50-day MA of $27.43.

SmarTrend is tracking the current trend status for Seacoast Bank/Fl and will alert subscribers who have SBCF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle seacoast bank/fl

Ticker(s): SBCF