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Possible Bearish Inside Day Candle Pattern Detected for INTL FCStone (NASDAQ:INTL)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in INTL FCStone (NASDAQ:INTL) based on the price action in the company's shares. Yesterday's price range of $37.46 and $38.90 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 INTL FCStone may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

INTL FCStone Inc. provides execution and advisory services in commodities, currencies and international securities. INTL FCStone's businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 10,000 commercial customers in more than 100 countries through a network of offices in eleven countries around the world.

Over the past year, INTL FCStone has traded in a range of $16.65 to $38.21 and closed yesterday at $37.46, 125% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has slid 0.4%.

INTL FCStone (NASDAQ:INTL) is currently priced 14.6% above its average consensus analyst price target of $32.00. The stock should discover initial support at its 200-day moving average (MA) of $28.76 and subsequent support at its 50-day MA of $26.87.

SmarTrend recommended that subscribers consider buying shares of INTL FCStone on March 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.40. Since that recommendation, shares of INTL FCStone have risen 42.2%. We continue to monitor INTL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle intl fcstone

Ticker(s): INTL