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Possible Bearish Inside Day Candle Pattern Detected for United Bankshs (NASDAQ:UBSI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in United Bankshs (NASDAQ:UBSI) based on the price action in the company's shares. Yesterday's price range of $37.02 and $37.35 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 United Bankshs 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, United Bankshs share prices have been bracketed by a low of $29.13 and a high of $39.95 and closed yesterday at $37.14, 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

United Bankshares, Inc. is a holding company that, through its subsidiaries, operates a network of offices in West Virginia, Virginia, Maryland, Ohio, and Washington, D.C. The Banks attract deposits from the general public and originates a variety of loan products.

United Bankshs (NASDAQ:UBSI) defies analysts with a current price ($37.14) 0.4% above its average consensus price target of $37.00. The stock should hit resistance at its 50-day moving average (MA) of $37.67, as well as support at its 200-day MA of $36.21.

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

Keywords: bearish am inside day candle united bankshs

Ticker(s): UBSI