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Possible Bullish Inside Day Candle Pattern Detected for Umb Financial (NASDAQ:UMBF)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Umb Financial (NASDAQ:UMBF) based on the price action in the company's shares. Yesterday's price range of $76.36 and $77.06 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 Umb Financial may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

UMB Financial Corporation is a multi-bank holding company offering complete banking, asset management, health spending solutions, and related financial services to both individual and business customers nationwide. Its banking subsidiaries operate throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, and Arizona.

In the past 52 weeks, Umb Financial share prices have been bracketed by a low of $48.87 and a high of $82.14 and closed yesterday at $77.05, 58% above that low price. The 200-day and 50-day moving averages have moved 0.09% higher and 0.01% higher over the past week, respectively.

Umb Financial (NASDAQ:UMBF) has potential upside of 4.8% based on a current price of $77.05 and analysts' consensus price target of $80.71. Umb Financial shares should encounter resistance at the 50-day moving average (MA) of $78.12 and support at its 200-day MA of $75.20.

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

Keywords: bullish am inside day candle umb financial

Ticker(s): UMBF