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Possible Bearish Inside Day Candle Pattern Detected for Federated Inv-B (NYSE:FII)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Federated Inv-B (NYSE:FII) based on the price action in the company's shares. Yesterday's price range of $28.94 and $29.18 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 Federated Inv-B may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Federated Inv-B (NYSE:FII) is currently priced 3.5% above its average consensus analyst price target of $28.00. Federated Inv-B shares should first meet resistance at the 50-day moving average (MA) of $29.09 and find additional resistance at the 200-day MA of $29.39.

Federated Investors, Inc. provides investment management products and related financial services. The Company sponsors, markets, and provides investment-related services to various investment products, including mutual funds and separate accounts (which include separately managed accounts, institutional accounts, sub-advised funds and other managed products).

In the past 52 weeks, shares of Federated Inv-B have traded between a low of $24.52 and a high of $33.13 and closed yesterday at $29.01, which is 18% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.5%.

SmarTrend recommended that subscribers consider buying shares of Federated Inv-B on June 12th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.31. Since that recommendation, shares of Federated Inv-B have risen 7.0%. We continue to monitor FII for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle federated inv-b

Ticker(s): FII