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

By Shiri Gupta

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 $19.45 and $19.80 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, shares of Hilltop Holdings have traded between a low of $14.28 and a high of $24.70 and closed yesterday at $19.70, which is 38% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 0.5%.

Hilltop Holdings (NYSE:HTH) has potential upside of 27.6% based on a current price of $19.70 and analysts' 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.

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.

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 19.8%. 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