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Possible Bullish Inside Day Candle Pattern Detected for United Community Banks (NASDAQ:UCBI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in United Community Banks (NASDAQ:UCBI) based on the price action in the company's shares. Today's price range of $17.35 and $17.65 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 United Community Banks may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 32.1% exists for United Community Banks, based on a current level of $17.53 and analysts' average consensus price target of $23.15. United Community Banks shares should first meet resistance at the 50-day moving average (MA) of $18.77 and find additional resistance at the 200-day MA of $19.38.

United Community Banks, Inc. is a multi-bank holding company with locations throughout north Georgia and western North Carolina. The Banks are community oriented and offer retail and corporate banking services including checking, savings, and time deposit accounts, secured and unsecured loans, wire transfers, trust services, and rental of safe deposit boxes.

United Community Banks share prices have moved between a 52-week high of $22.23 and a 52-week low of $15.74 and are now trading 11% above that low price at $17.53 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.3%.

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

Keywords: bullish inside day candle united community banks

Ticker(s): UCBI