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Possible Bullish Inside Day Candle Pattern Detected for People'S United (:PBCT)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in People'S United (:PBCT) based on the price action in the company's shares. Yesterday's price range of $15.48 and $15.57 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 People'S United may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

People's United Financial, Inc. is a savings and loan holding company. The Company provides commercial, retail, and business banking, and wealth management services to individual, corporate, and municipal customers.

People'S United has overhead space with shares priced $15.61, or 21.7% below the average consensus analyst price target of $19.94. The stock should run into initial resistance at its 200-day moving average (MA) of $16.16 and subsequent resistance at its 50-day MA of $16.40.

Over the past year, People'S United has traded in a range of $13.81 to $18.03 and closed yesterday at $15.61, 13% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for People'S United and will alert subscribers who have PBCT in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle :pbct people's united

Ticker(s): PBCT