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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 $23.44 and $23.76 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.

Hilltop Holdings share prices have moved between a 52-week high of $25.61 and a 52-week low of $16.43 and closed yesterday at 44% above that low price at $23.64 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.6%.

Potential upside of 11.6% exists for Hilltop Holdings, based on a current level of $23.64 and analysts' average consensus price target of $26.38. The stock should find resistance at its 50-day moving average (MA) of $24.27, as well as support at its 200-day MA of $21.44.

Hilltop Holdings Inc. is a diversified financial holding company. The Company's primary subsidiary is a Texas based regional commercial banking franchise. Hilltop's other holdings include a retail mortgage originator, a regional broker dealer and a property and casualty insurance provider.

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

Keywords: bullish am inside day candle hilltop holdings

Ticker(s): HTH