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Possible Bullish Inside Day Candle Pattern Detected for Iberiabank Corp (NASDAQ:IBKC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Iberiabank Corp (NASDAQ:IBKC) based on the price action in the company's shares. Yesterday's price range of $71.94 and $72.75 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 Iberiabank Corp 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, Iberiabank Corp share prices have been bracketed by a low of $62.66 and a high of $91.10 and closed yesterday at $72.06, 15% above that low price. The 200-day and 50-day moving averages have moved 0.1% lower and 0.02% higher over the past week, respectively.

IBERIABANK Corporation is the holding company for IBERIABANK, a commercial bank conducting business from a network of offices located throughout Louisiana. The Bank attracts deposits from the general public and uses those funds to originate consumer and commercial loans. IBERIABANK also offers discount brokerage services through a wholly owned subsidiary.

Iberiabank Corp (NASDAQ:IBKC) has potential upside of 25.0% based on a current price of $72.06 and analysts' consensus price target of $90.10. The stock should find initial resistance at its 200-day moving average (MA) of $74.50 and further resistance at its 50-day MA of $74.53.

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

Keywords: bullish am inside day candle iberiabank corp

Ticker(s): IBKC