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Possible Bullish Inside Day Candle Pattern Detected for Hilltop Holdings (NYSE:HTH)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hilltop Holdings (NYSE:HTH) based on the price action in the company's shares. Yesterday's price range of $21.79 and $22.01 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 Hilltop Holdings 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, Hilltop Holdings share prices have been bracketed by a low of $14.28 and a high of $24.70 and closed yesterday at $21.84, 53% above that low price. The 200-day and 50-day moving averages have moved 0.46% lower and 1.52% higher over the past week, respectively.

Hilltop Holdings Inc., primarily operates in the field of acquisition, renovation, repositioning and operation of all-age manufactured home communities, and provides retail sale and financing of manufactured homes. The Company also provides rental of manufactured homes and other related businesses.

Potential upside of 15.1% exists for Hilltop Holdings, based on a current level of $21.84 and analysts' average consensus price target of $25.14. The stock should find initial support at its 200-day moving average (MA) of $19.44 and further support at its 50-day MA of $18.85.

SmarTrend recommended that subscribers consider buying shares of Hilltop Holdings on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.11. Since that recommendation, shares of Hilltop Holdings have risen 35.2%. We continue to monitor HTH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle hilltop holdings

Ticker(s): HTH