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Possible Bearish Inside Day Candle Pattern Detected for Principal Finl (NASDAQ:PFG)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Principal Finl (NASDAQ:PFG) based on the price action in the company's shares. Today's price range of $55.15 and $55.68 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 Principal Finl may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 24.2% exists for Principal Finl, based on a current level of $55.30 and analysts' average consensus price target of $68.67. The stock should run into initial resistance at its 50-day moving average (MA) of $56.17 and subsequent resistance at its 200-day MA of $63.63.

Over the past year, Principal Finl has traded in a range of $52.31 to $75.58 and is now at $55.30, 6% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.2%.

Principal Financial Group, Inc. offers businesses, individuals, and institutional clients a range of financial products and services. The Company offers retirement solutions, life and health insurance, wellness programs, and investment and banking products.

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

Keywords: bearish inside day candle principal finl

Ticker(s): PFG