• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Ny Comm Bancorp (NYSE:NYCB)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ny Comm Bancorp (NYSE:NYCB) based on the price action in the company's shares. Today's price range of $9.08 and $9.33 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. Owners of Ny Comm Bancorp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Ny Comm Bancorp have traded between a low of $8.19 and a high of $13.79 and are now at $9.20, which is 12% above that low price. The 200-day and 50-day moving averages have moved 0.1% lower and 1.63% lower over the past week, respectively.

Ny Comm Bancorp (NYSE:NYCB) has potential upside of 40.6% based on a current price of $9.20 and analysts' consensus price target of $12.94. The stock should find initial resistance at its 50-day moving average (MA) of $10.62 and further resistance at its 200-day MA of $11.46.

New York Community Bancorp, Inc. is a multi-bank holding company. The Company, through its banking subsidiaries, offers a full range of traditional and non-traditional products and services, and originates multi-family, commercial real estate, and construction loans, primarily in the New York metropolitan area.

SmarTrend recommended that its subscribers protect gains by selling shares of Ny Comm Bancorp on December 3rd, 2019 by issuing a Downtrend alert when the shares were trading at $11.70. Since that call, shares of Ny Comm Bancorp have fallen 21.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle ny comm bancorp

Ticker(s): NYCB