• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Umpqua Holdings (NASDAQ:UMPQ)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Umpqua Holdings (NASDAQ:UMPQ) based on the price action in the company's shares. Yesterday's price range of $18.17 and $18.39 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 Umpqua Holdings may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Umpqua Holdings (NASDAQ:UMPQ) has potential upside of 7.3% based on a current price of $18.24 and analysts' consensus price target of $19.56. Umpqua Holdings shares have support at the 200-day moving average (MA) of $16.23 and additional support at the 50-day MA of $15.85.

Umpqua Holdings Corporation is the holding company for Umpqua Bank, an Oregon state-chartered bank. Umpqua Bank is engaged primarily in the business of commercial and retail banking and the delivery of retail brokerage services. The Bank provides asset management, mortgage banking and other financial services to corporate, institutional and individual customers.

Umpqua Holdings share prices have moved between a 52-week high of $19.50 and a 52-week low of $13.45 and closed yesterday at 36% above that low price at $18.24 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has slid 0.4%.

SmarTrend recommended that subscribers consider buying shares of Umpqua Holdings on November 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.61. Since that recommendation, shares of Umpqua Holdings have risen 9.1%. We continue to monitor UMPQ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle umpqua holdings

Ticker(s): UMPQ