• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Texas Capital Ba (NASDAQ:TCBI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Texas Capital Ba (NASDAQ:TCBI) based on the price action in the company's shares. Today's price range of $55.60 and $56.37 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 Texas Capital Ba 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 Texas Capital Ba have traded between a low of $47.86 and a high of $90.60 and are now at $56.37, which is 18% above that low price. The 200-day and 50-day moving averages have moved 0.29% lower and 1.05% lower over the past week, respectively.

Texas Capital Bancshares, Inc. is the holding company for Texas Capital Bank, NA. The Bank attracts deposits from the general public and invests those funds in loans secured by single-family residential loans and commercial real estate, secured and unsecured commercial loans, and consumer loans. Texas Capital Bancshares serves customers in the State of Texas.

There is potential upside of 87.5% for shares of Texas Capital Ba based on a current price of $56.37 and an average consensus analyst price target of $105.67. The stock should run into initial resistance at its 50-day moving average (MA) of $57.44 and subsequent resistance at its 200-day MA of $58.22.

SmarTrend is tracking the current trend status for Texas Capital Ba and will alert subscribers who have TCBI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle texas capital ba

Ticker(s): TCBI