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Possible Bullish Inside Day Candle Pattern Detected for Bancorp Inc/The (NASDAQ:TBBK)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Bancorp Inc/The (NASDAQ:TBBK) based on the price action in the company's shares. Yesterday's price range of $10.00 and $10.18 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. Traders and investors interested in shares of Bancorp Inc/The may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

The Bancorp, Inc. is a bank holding company. The Bank offers services including interest bearing checking accounts, a full line of loan products, and online bill payment. Bancorp operates in the States of Delaware and Pennsylvania.

Over the past year, Bancorp Inc/The has traded in a range of $4.41 to $10.54 and closed yesterday at $10.13, 130% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 1.4%.

Bancorp Inc/The (NASDAQ:TBBK) is currently priced 12.4% above its average consensus analyst price target of $8.88. The stock should discover initial support at its 200-day moving average (MA) of $6.57 and subsequent support at its 50-day MA of $5.47.

SmarTrend recommended that subscribers consider buying shares of Bancorp Inc/The on April 28th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.17. Since that recommendation, shares of Bancorp Inc/The have risen 61.6%. We continue to monitor TBBK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle bancorp inc/the

Ticker(s): TBBK