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Possible Bearish Inside Day Candle Pattern Detected for People'S United (:PBCT)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in People'S United (:PBCT) based on the price action in the company's shares. Today's price range of $16.20 and $16.27 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 People'S United may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

People's United Financial, Inc. is a savings and loan holding company. The Company provides commercial, retail, and business banking, and wealth management services to individual, corporate, and municipal customers.

People'S United share prices have moved between a 52-week high of $18.03 and a 52-week low of $13.81 and are now trading 18% above that low price at $16.23 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

There is potential upside of 22.9% for shares of People'S United based on a current price of $16.23 and an average consensus analyst price target of $19.94. People'S United shares should encounter resistance at the 50-day moving average (MA) of $16.34 and support at its 200-day MA of $16.09.

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

Keywords: bearish inside day candle :pbct people's united

Ticker(s): PBCT