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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. Today's price range of $31.64 and $32.73 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 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 (NASDAQ:LPLA) has potential upside of 24.9% based on a current price of $32.30 and analysts' consensus price target of $40.36. LPL Investment Holdings shares should encounter resistance at the 200-day moving average (MA) of $35.56 and support at the 50-day MA of $23.95.

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.

Over the past year, LPL Investment Holdings has traded in a range of $15.38 to $48.18 and is now at $32.30, 110% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.8% while the 200-day MA has slid 1.2%.

SmarTrend recommended that subscribers consider buying shares of LPL Investment Holdings on July 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.57. Since that recommendation, shares of LPL Investment Holdings have risen 24.3%. We continue to monitor LPLA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle lpl investment holdings

Ticker(s): LPLA