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Possible Bullish Inside Day Candle Pattern Detected for United Financial (NASDAQ:UBNK)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in United Financial (NASDAQ:UBNK) based on the price action in the company's shares. Yesterday's price range of $17.35 and $17.54 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 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.

There is potential upside of 3.5% for shares of United Financial based on a current price of $17.48 and an average consensus analyst price target of $18.10. United Financial shares should encounter resistance at the 50-day moving average (MA) of $17.55 and support at its 200-day MA of $17.36.

United Financial share prices have moved between a 52-week high of $19.35 and a 52-week low of $12.42 and closed yesterday at 41% above that low price at $17.48 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

United Financial Bancorp Inc. is the holding company for United Bank. The Bank accepts deposits and make loans to individuals and businesses. United Bank operates in Hartford and Tolland Counties, Connecticut.

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

Keywords: bullish am inside day candle united financial

Ticker(s): UBNK