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Possible Bullish Inside Day Candle Pattern Detected for United Bankshs (NASDAQ:UBSI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in United Bankshs (NASDAQ:UBSI) based on the price action in the company's shares. Yesterday's price range of $35.65 and $36.15 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 United Bankshs may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

United Bankshares, Inc. is a holding company that, through its subsidiaries, operates a network of offices in West Virginia, Virginia, Maryland, Ohio, and Washington, D.C. The Banks attract deposits from the general public and originates a variety of loan products.

In the past 52 weeks, United Bankshs share prices have been bracketed by a low of $31.70 and a high of $49.35 and closed yesterday at $36.05, 14% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.7%.

There is potential upside of 7.3% for shares of United Bankshs based on a current price of $36.05 and an average consensus analyst price target of $38.67. The stock should run into initial resistance at its 50-day moving average (MA) of $36.87 and subsequent resistance at its 200-day MA of $37.64.

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

Keywords: bullish am inside day candle united bankshs

Ticker(s): UBSI