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Possible Bearish Inside Day Candle Pattern Detected for Customers Bancor (NYSE:CUBI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Customers Bancor (NYSE:CUBI) based on the price action in the company's shares. Yesterday's price range of $12.36 and $12.99 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 Customers Bancor may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Customers Bancor has overhead space with shares priced $12.76, or 67.7% below the average consensus analyst price target of $39.50. The stock should run into initial resistance at its 50-day moving average (MA) of $13.58 and subsequent resistance at its 200-day MA of $19.68.

Customers Bancorp, Inc. provides banking services. The Company offers checking and saving accounts, personal and commercial loans, and retirement planning services. Customers Bancorp serves customers throughout the State of Pennsylvania.

In the past 52 weeks, Customers Bancor share prices have been bracketed by a low of $8.59 and a high of $25.72 and closed yesterday at $12.76, 49% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 5.6%.

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

Keywords: bearish am inside day candle customers bancor

Ticker(s): CUBI