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Possible Bearish Inside Day Candle Pattern Detected for Interpublic Grp (NYSE:IPG)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Interpublic Grp (NYSE:IPG) based on the price action in the company's shares. Today's price range of $22.37 and $22.43 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 Interpublic Grp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

The Interpublic Group of Companies, Inc. is an organization of advertising agencies and marketing service companies. The Company operates globally in the sectors of advertising, independent media buying, direct marketing, healthcare communications, interactive consulting services, marketing research, promotions, experiential and sport marketing, and public relations.

Interpublic Grp (NYSE:IPG) has potential upside of 12.5% based on a current price of $22.43 and analysts' consensus price target of $25.23. The stock should find resistance at its 200-day moving average (MA) of $22.52, as well as support at its 50-day MA of $22.20.

Interpublic Grp share prices have moved between a 52-week high of $25.77 and a 52-week low of $19.61 and are now trading 14% above that low price at $22.43 per share. The 200-day and 50-day moving averages have moved 0.1% lower and 0.19% lower over the past week, respectively.

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

Keywords: bearish inside day candle interpublic grp

Ticker(s): IPG