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Possible Bearish Inside Day Candle Pattern Detected for Tristate Capital (NASDAQ:TSC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tristate Capital (NASDAQ:TSC) based on the price action in the company's shares. Yesterday's price range of $22.00 and $22.20 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 Tristate Capital 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, Tristate Capital share prices have been bracketed by a low of $18.20 and a high of $29.98 and closed yesterday at $22.10, 21% above that low price. The 200-day and 50-day moving averages have moved 0.42% lower and 0.12% higher over the past week, respectively.

Tristate Capital (NASDAQ:TSC) has potential upside of 29.4% based on a current price of $22.10 and analysts' consensus price target of $28.60. The stock should find initial support at its 200-day moving average (MA) of $21.24 and further support at its 50-day MA of $20.21.

Tristate Capital Holdings, Inc. operates as a bank holding company. The Company, through its subsidiaries, provides regional lending and cash management services to business and commercial real estate clients. Tristate Capital serves customers in the State of Pennsylvania.

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

Keywords: bearish am inside day candle tristate capital

Ticker(s): TSC