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

By Shiri Gupta

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. Today's price range of $37.44 and $37.44 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 United Bankshs may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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.

Over the past year, United Bankshs has traded in a range of $29.13 to $39.95 and is now at $37.44, 29% above that low. The 200-day and 50-day moving averages have moved 0.03% higher and 1.48% higher over the past week, respectively.

United Bankshs (NASDAQ:UBSI) is currently priced 1.2% above its average consensus analyst price target of $37.00. The stock should find initial support at its 200-day moving average (MA) of $36.05 and further support at its 50-day MA of $36.04.

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 inside day candle united bankshs

Ticker(s): UBSI