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Possible Bullish Inside Day Candle Pattern Detected for Texas Capital Bancshares (NASDAQ:TCBI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Texas Capital Bancshares (NASDAQ:TCBI) based on the price action in the company's shares. Today's price range of $80.50 and $82.00 is within yesterday'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 Texas Capital Bancshares may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Texas Capital Bancshares, Inc. is the holding company for Texas Capital Bank, NA. The Bank attracts deposits from the general public and invests those funds in loans secured by single-family residential loans and commercial real estate, secured and unsecured commercial loans, and consumer loans. The Bank's current primary market is the greater Dallas/Fort Worth metropolitan area.

Texas Capital Bancshares share prices have moved between a 52-week high of $93.35 and a 52-week low of $29.78 and are now trading 174% above that low price at $81.45 per share. The 200-day and 50-day moving averages have moved 0.65% lower and 2.25% higher over the past week, respectively.

There is potential upside of 6.0% for shares of Texas Capital Bancshares based on a current price of $81.45 and an average consensus analyst price target of $86.31. The stock should discover initial support at its 200-day moving average (MA) of $47.54 and subsequent support at its 50-day MA of $39.27.

SmarTrend is tracking the current trend status for Texas Capital Bancshares and will alert subscribers who have TCBI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle texas capital bancshares

Ticker(s): TCBI