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Possible Bullish Inside Day Candle Pattern Detected for Pacwest Bancorp (NASDAQ:PACW)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Pacwest Bancorp (NASDAQ:PACW) based on the price action in the company's shares. Yesterday's price range of $52.90 and $53.80 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 Pacwest Bancorp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Pacwest Bancorp (NASDAQ:PACW) is currently priced 3.5% above its average consensus analyst price target of $51.91. The stock should discover initial support at its 200-day moving average (MA) of $41.08 and subsequent support at its 50-day MA of $37.15.

PacWest Bancorp is a bank holding company. The Company, through its banking subsidiary, offers a wide range of commercial banking services.

In the past 52 weeks, shares of Pacwest Bancorp have traded between a low of $35.56 and a high of $57.53 and closed yesterday at $53.78, which is 51% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.6%.

SmarTrend is monitoring the recent change of momentum in Pacwest Bancorp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Pacwest Bancorp in search of a potential trend change.

Keywords: bullish am inside day candle pacwest bancorp

Ticker(s): PACW