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Possible Bearish Inside Day Candle Pattern Detected for United Community (NASDAQ:UCBI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in United Community (NASDAQ:UCBI) based on the price action in the company's shares. Yesterday's price range of $28.78 and $29.40 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 United Community 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, United Community has traded in a range of $23.21 to $31.66 and closed yesterday at $29.08, 25% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.

United Community has overhead space with shares priced $29.08, or 20.5% below the average consensus analyst price target of $36.58. The stock should hit resistance at its 50-day moving average (MA) of $29.76, as well as support at its 200-day MA of $28.64.

United Community Banks, Inc. of Georgia operates as a bank holding company. The Company, through its subsidiaries, offers banking products and services such as savings accounts, certificate of deposits, home equity line of credit, mortgages, personal and business loans, credit and debit cards, and online banking. United Community Banks serves customers in the United States.

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

Keywords: bearish am inside day candle united community

Ticker(s): UCBI