What’s Ahead for Unity Bancorp, Inc. (UNTY) After Forming Bullish Double Top Chart Pattern?

July 18, 2017 - By Darrin Black

Investors sentiment increased to 1.64 in 2016 Q4. Its up 0.39, from 1.25 in 2016Q3. It increased, as 5 investors sold Unity Bancorp, Inc. shares while 6 reduced holdings. 7 funds opened positions while 11 raised stakes. 4.50 million shares or 36.04% less from 7.04 million shares in 2016Q3 were reported.
Royal Fincl Bank Of Canada reported 8,493 shares. Blackrock Institutional Trust Na reported 2,266 shares stake. California Public Employees Retirement Systems holds 0% or 54,643 shares in its portfolio. Blackrock Investment Mngmt Ltd Liability Com stated it has 0% of its portfolio in Unity Bancorp, Inc. (NASDAQ:UNTY). Ejf Capital Ltd Liability stated it has 0.52% of its portfolio in Unity Bancorp, Inc. (NASDAQ:UNTY). Ativo Cap Mngmt Ltd Liability Company has invested 0.29% in Unity Bancorp, Inc. (NASDAQ:UNTY). 5,200 were accumulated by Jpmorgan Chase & Company. Acadian Asset Mngmt Ltd Limited Liability Company invested in 0% or 190 shares. Basswood Management Limited Liability Co invested 0.31% in Unity Bancorp, Inc. (NASDAQ:UNTY). Morgan Stanley has invested 0% of its portfolio in Unity Bancorp, Inc. (NASDAQ:UNTY). Kennedy Capital holds 0.04% of its portfolio in Unity Bancorp, Inc. (NASDAQ:UNTY) for 150,000 shares. 653,769 are held by Banc Funds Limited Liability Co. Geode Mngmt Ltd Liability Company has 69,608 shares for 0% of their portfolio. Moreover, Wellington Gru Llp has 0% invested in Unity Bancorp, Inc. (NASDAQ:UNTY). Dimensional Fund Limited Partnership accumulated 262,571 shares or 0% of the stock.

The chart of Unity Bancorp, Inc. (UNTY) shows a double top with $19.44 target or 8.00 % above today’s $18.00 share price. The 6 months chart pattern indicates low risk for the $187.04M company. It was reported on Jul, 18 by Finviz.com. If the $19.44 price target is reached, the company will be worth $14.96M more. Double tops are rare but powerful chart patterns.

The stock decreased 0.28% or $0.05 during the last trading session, reaching $18. About shares traded. Unity Bancorp, Inc. (NASDAQ:UNTY) has risen 54.08% since July 18, 2016 and is uptrending. It has outperformed by 37.38% the S&P500.

More news for Unity Bancorp, Inc. (NASDAQ:UNTY) were recently published by: Globenewswire.com, which released: “Unity Bancorp Announces Completion of $15.0 Million Common Stock Offering” on December 08, 2016. Nasdaq.com‘s article titled: “Unity Bancorp, Inc. (UNTY) Ex-Dividend Date Scheduled for March 15, 2017” and published on March 14, 2017 is yet another important article.

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