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Possible Bearish Inside Day Candle Pattern Detected for Bankunited Inc (NYSE:BKU)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Bankunited Inc (NYSE:BKU) based on the price action in the company's shares. Yesterday's price range of $19.08 and $19.99 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. Owners of Bankunited Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Bankunited Inc (NYSE:BKU) has potential upside of 137.5% based on a current price of $19.35 and analysts' consensus price target of $45.96. Bankunited Inc shares should first meet resistance at the 50-day moving average (MA) of $29.15 and find additional resistance at the 200-day MA of $32.64.

Bankunited Inc share prices have moved between a 52-week high of $37.60 and a 52-week low of $14.50 and closed yesterday at 33% above that low price at $19.35 per share. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 5.5%.

BankUnited, Inc. is a bank holding company. The Company, through its subsidiaries, provides a range of financial products and services, such as personal, commercial, and business banking.

SmarTrend recommended that its subscribers protect gains by selling shares of Bankunited Inc on January 13th, 2020 by issuing a Downtrend alert when the shares were trading at $34.99. Since that call, shares of Bankunited Inc have fallen 44.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle bankunited inc

Ticker(s): BKU