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Possible Bullish Inside Day Candle Pattern Detected for Prosperity Bncsh (NYSE:PB)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Prosperity Bncsh (NYSE:PB) based on the price action in the company's shares. Yesterday's price range of $69.13 and $69.88 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 Prosperity Bncsh may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Prosperity Bncsh (NYSE:PB) has potential upside of 9.7% based on a current price of $69.85 and analysts' consensus price target of $76.65. The stock should discover initial support at its 200-day moving average (MA) of $69.46 and subsequent support at its 50-day MA of $68.62.

Prosperity Bancshares, Inc. operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers.

Over the past year, Prosperity Bncsh has traded in a range of $57.01 to $75.36 and closed yesterday at $69.85, 23% above that low. The 200-day and 50-day moving averages have moved 0.16% higher and 1.00% higher over the past week, respectively.

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

Keywords: bullish am inside day candle prosperity bncsh

Ticker(s): PB