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

By James Quinn

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 $22.23 and $23.32 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.

Over the past year, Seacoast Bank/Fl has traded in a range of $13.30 to $31.42 and closed yesterday at $22.47, 69% 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 2.2%.

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.

There is potential upside of 35.4% for shares of Seacoast Bank/Fl based on a current price of $22.47 and an average consensus analyst price target of $30.42. The stock should find resistance at its 200-day moving average (MA) of $25.55, as well as support at its 50-day MA of $20.28.

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