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Possible Bearish Inside Day Candle Pattern Detected for United Community (NASDAQ:UCBI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in United Community (NASDAQ:UCBI) based on the price action in the company's shares. Yesterday's price range of $27.40 and $27.72 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 Community may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

United Community Banks, Inc. of Georgia operates as a bank holding company. The Company, through its subsidiaries, offers banking products and services such as savings accounts, certificate of deposits, home equity line of credit, mortgages, personal and business loans, credit and debit cards, and online banking. United Community Banks serves customers in the United States.

In the past 52 weeks, United Community share prices have been bracketed by a low of $20.23 and a high of $34.18 and closed yesterday at $27.70, 37% 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 0.8%.

There is potential upside of 32.1% for shares of United Community based on a current price of $27.70 and an average consensus analyst price target of $36.58. United Community shares have support at the 50-day moving average (MA) of $27.00 and additional support at the 200-day MA of $26.42.

SmarTrend recommended that subscribers consider buying shares of United Community on April 5th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.36. Since that recommendation, shares of United Community have risen 5.9%. We continue to monitor UCBI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle united community

Ticker(s): UCBI