• Return to Headlines

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

By James Quinn

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 $21.64 and $21.64 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.

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.

In the past 52 weeks, Tristate Capital share prices have been bracketed by a low of $18.20 and a high of $30.10 and closed yesterday at $21.64, 19% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.5%.

There is potential upside of 32.2% for shares of Tristate Capital based on a current price of $21.64 and an average consensus analyst price target of $28.60. The stock should hit resistance at its 200-day moving average (MA) of $25.06, as well as support at its 50-day MA of $21.46.

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