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Possible Bullish Inside Day Candle Pattern Detected for Glacier Bancorp (NASDAQ:GBCI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Glacier Bancorp (NASDAQ:GBCI) based on the price action in the company's shares. Yesterday's price range of $39.09 and $39.84 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 Glacier Bancorp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 2.3% for shares of Glacier Bancorp based on a current price of $39.51 and an average consensus analyst price target of $40.40. Glacier Bancorp shares should first meet resistance at the 50-day moving average (MA) of $42.43 and find additional resistance at the 200-day MA of $42.69.

Over the past year, Glacier Bancorp has traded in a range of $35.77 to $47.67 and closed yesterday at $39.51, 10% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has remained constant.

Glacier Bancorp, Inc. operates as the holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Glacier Bancorp on March 7th, 2019 by issuing a Downtrend alert when the shares were trading at $41.15. Since that call, shares of Glacier Bancorp have fallen 5.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle glacier bancorp

Ticker(s): GBCI