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

By Amy Schwartz

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 $22.91 and $23.09 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.

In the past 52 weeks, shares of Interpublic Grp have traded between a low of $19.61 and a high of $25.10 and are now at $22.91, which is 17% above that low price. The 200-day and 50-day moving averages have moved 0.02% higher and 0.14% lower over the past week, respectively.

There is potential upside of 10.1% for shares of Interpublic Grp based on a current price of $22.91 and an average consensus analyst price target of $25.23. The stock should find initial support at its 200-day moving average (MA) of $22.52 and further support at its 50-day MA of $22.24.

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.

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