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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in United Community (NASDAQ:UCBI) based on the price action in the company's shares. Yesterday's price range of $30.09 and $30.43 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 Community may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, United Community has traded in a range of $17.07 to $34.18 and closed yesterday at $30.35, 78% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.3%.

United Community Banks, Inc. of Georgia operates as a bank holding company. The Company, through its subsidiaries, offers banking products and services such as savings accounts, certificate of deposits, home equity line of credit, mortgages, personal and business loans, credit and debit cards, and online banking. United Community Banks serves customers in the United States.

Potential upside of 20.5% exists for United Community, based on a current level of $30.35 and analysts' average consensus price target of $36.58. United Community shares should first meet resistance at the 200-day moving average (MA) of $30.58 and find additional resistance at the 50-day MA of $32.49.

SmarTrend recommended that its subscribers protect gains by selling shares of United Community on June 28th, 2018 by issuing a Downtrend alert when the shares were trading at $31.12. Since that call, shares of United Community have fallen 3.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle united community

Ticker(s): UCBI