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

By James Quinn

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 $39.06 and $39.51 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.

In the past 52 weeks, Glacier Bancorp share prices have been bracketed by a low of $24.58 and a high of $41.47 and closed yesterday at $39.31, 60% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.3%.

There is potential upside of 2.8% for shares of Glacier Bancorp based on a current price of $39.31 and an average consensus analyst price target of $40.40. The stock should discover initial support at its 50-day moving average (MA) of $39.29 and subsequent support at its 200-day MA of $38.53.

Glacier Bancorp, Inc. is a multi-bank holding company. The Banks attract deposits from the general public and use those funds to originate a variety of commercial and consumer loans.

SmarTrend is tracking the current trend status for Glacier Bancorp and will alert subscribers who have GBCI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle glacier bancorp

Ticker(s): GBCI