• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Trico Bancshares (NASDAQ:TCBK)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Trico Bancshares (NASDAQ:TCBK) based on the price action in the company's shares. Yesterday's price range of $39.52 and $40.19 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 Trico Bancshares 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 Trico Bancshares have traded between a low of $31.05 and a high of $41.31 and closed yesterday at $39.99, which is 29% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has remained constant.

Trico Bancshares (NASDAQ:TCBK) has potential upside of 9.5% based on a current price of $39.99 and analysts' consensus price target of $43.80. The stock should discover initial support at its 200-day moving average (MA) of $37.99 and subsequent support at its 50-day MA of $37.62.

TriCo Bancshares is the holding company for Tri Counties Bank. The Bank provides various loans, lines of credit, savings accounts, mutual funds, and other products and services to individuals and businesses. Tri Counties operates in Northern and Central California.

SmarTrend recommended that subscribers consider buying shares of Trico Bancshares on October 28th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.01. Since that recommendation, shares of Trico Bancshares have risen 8.1%. We continue to monitor TCBK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle trico bancshares

Ticker(s): TCBK