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Possible Bearish Inside Day Candle Pattern Detected for Ameriprise Finan (NYSE:AMP)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ameriprise Finan (NYSE:AMP) based on the price action in the company's shares. Today's price range of $140.30 and $141.44 is within yesterday'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 Ameriprise Finan may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Ameriprise Financial, Inc. is a financial planning and services firm. The Company provides financial planning, products and services that are designed to be utilized as solutions for its clients' cash and liquidity, asset accumulation, income, protection, and estate and wealth transfer needs.

Ameriprise Finan has overhead space with shares priced $140.80, or 13.9% below the average consensus analyst price target of $163.55. Ameriprise Finan shares have support at the 200-day moving average (MA) of $104.07 and additional support at the 50-day MA of $93.38.

In the past 52 weeks, Ameriprise Finan share prices have been bracketed by a low of $84.92 and a high of $183.90 and are now at $140.80, 66% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that its subscribers protect gains by selling shares of Ameriprise Finan on January 31st, 2018 by issuing a Downtrend alert when the shares were trading at $170.61. Since that call, shares of Ameriprise Finan have fallen 17.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle ameriprise finan

Ticker(s): AMP