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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Iberiabank (NASDAQ:IBKC) based on the price action in the company's shares. Yesterday's price range of $82.65 and $83.40 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 may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Iberiabank share prices have moved between a 52-week high of $91.10 and a 52-week low of $42.20 and closed yesterday at 98% above that low price at $83.35 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.5%.

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.

Potential upside of 10.5% exists for Iberiabank, based on a current level of $83.35 and analysts' average consensus price target of $92.09. The stock should discover initial support at its 200-day moving average (MA) of $56.25 and subsequent support at its 50-day MA of $52.54.

SmarTrend is tracking the current trend status for Iberiabank 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

Ticker(s): IBKC