• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Sterling Bancorp (NYSE:STL)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Sterling Bancorp (NYSE:STL) based on the price action in the company's shares. Yesterday's price range of $20.17 and $20.45 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 Sterling Bancorp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Sterling Bancorp provides clients with a full range of depository and cash management services and a broad portfolio of financing solutions-including working capital lines, accounts receivable and inventory financing, factoring, trade financing, payroll funding and processing, equipment financing, commercial and residential mortgages and mortgage warehouse lines of credit.

There is potential upside of 52.0% for shares of Sterling Bancorp based on a current price of $20.20 and an average consensus analyst price target of $30.70. Sterling Bancorp shares have support at the 200-day moving average (MA) of $20.05 and additional support at the 50-day MA of $19.74.

In the past 52 weeks, Sterling Bancorp share prices have been bracketed by a low of $15.62 and a high of $22.17 and closed yesterday at $20.20, 29% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.4%.

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

Keywords: bearish am inside day candle sterling bancorp

Ticker(s): STL