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Possible Bearish Inside Day Candle Pattern Detected for LPL Investment Holdings (NASDAQ:LPLA)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in LPL Investment Holdings (NASDAQ:LPLA) based on the price action in the company's shares. Yesterday's price range of $27.01 and $27.80 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 LPL Investment Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

LPL Investment Holdings, Inc. offers technology, brokerage and investment advisory services through business relationships with all types of financial advisors. Through proprietary technology, custody and clearing platforms, the Company offers access to financial products and services that enable them to provide financial advice and brokerage services to retail investors.

In the past 52 weeks, shares of LPL Investment Holdings have traded between a low of $15.38 and a high of $48.18 and closed yesterday at $27.29, which is 77% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 1.8%.

LPL Investment Holdings has overhead space with shares priced $27.29, or 32.4% below the average consensus analyst price target of $40.36. The stock should hit resistance at its 200-day moving average (MA) of $35.56, as well as support at its 50-day MA of $23.95.

SmarTrend recommended that subscribers consider buying shares of LPL Investment Holdings on March 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.02. Since that recommendation, shares of LPL Investment Holdings have risen 26.3%. We continue to monitor LPLA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle lpl investment holdings

Ticker(s): LPLA