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Possible Bullish Inside Day Candle Pattern Detected for Pacific Premier (NASDAQ:PPBI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Pacific Premier (NASDAQ:PPBI) based on the price action in the company's shares. Yesterday's price range of $28.66 and $29.26 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 Pacific Premier may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Pacific Premier Bancorp, Inc. is the holding company for Pacific Premier Bank. The Bank is a savings bank whose primary business includes branch banking, and income property and construction lending. Pacific Premier operates branches in Orange and San Bernadino counties, both located in Southern California.

There is potential upside of 64.2% for shares of Pacific Premier based on a current price of $29.23 and an average consensus analyst price target of $48.00. The stock should hit resistance at its 200-day moving average (MA) of $31.99, as well as support at its 50-day MA of $28.70.

In the past 52 weeks, Pacific Premier share prices have been bracketed by a low of $23.01 and a high of $43.20 and closed yesterday at $29.23, 27% above that low price. The 200-day and 50-day moving averages have moved 0.28% lower and 0.15% lower over the past week, respectively.

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

Keywords: bullish am inside day candle pacific premier

Ticker(s): PPBI