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Possible Bearish Inside Day Candle Pattern Detected for Seacoast Bank/Fl (NASDAQ:SBCF)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Seacoast Bank/Fl (NASDAQ:SBCF) based on the price action in the company's shares. Yesterday's price range of $20.62 and $21.35 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 Seacoast Bank/Fl may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Seacoast Banking Corporation of Florida operates as a bank holding company. The Bank, through its subsidiaries, offers a full range of banking and investment services, including personal and business deposit products, personal, commercial, and mortgage loans, wealth management services, and treasury management solutions.

Seacoast Bank/Fl has overhead space with shares priced $20.88, or 31.4% below the average consensus analyst price target of $30.42. The stock should find resistance at its 200-day moving average (MA) of $25.38, as well as support at its 50-day MA of $19.58.

Over the past year, Seacoast Bank/Fl has traded in a range of $13.30 to $31.42 and closed yesterday at $20.88, 57% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.3%.

SmarTrend is tracking the current trend status for Seacoast Bank/Fl and will alert subscribers who have SBCF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle seacoast bank/fl

Ticker(s): SBCF