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Possible Bearish Inside Day Candle Pattern Detected for T Rowe Price Grp (NASDAQ:TROW)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in T Rowe Price Grp (NASDAQ:TROW) based on the price action in the company's shares. Today's price range of $82.83 and $83.35 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 T Rowe Price Grp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

T. Rowe Price Group Inc. is a financial services holding company. The Company, through its subsidiaries, provides investment advisory services to individual and institutional investors. T. Rowe manages a broad range of U.S. and international stock, blended asset, bond, and money market mutual funds and other investment portfolios.

In the past 52 weeks, T Rowe Price Grp share prices have been bracketed by a low of $62.97 and a high of $85.42 and are now at $82.88, 32% above that low price. The 200-day and 50-day moving averages have moved 0.12% lower and 0.63% higher over the past week, respectively.

T Rowe Price Grp (NASDAQ:TROW) is currently priced 11.8% above its average consensus analyst price target of $73.08. The stock should discover initial support at its 50-day moving average (MA) of $73.70 and subsequent support at its 200-day MA of $72.32.

SmarTrend recommended that subscribers consider buying shares of T Rowe Price Grp on April 18th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $71.48. Since that recommendation, shares of T Rowe Price Grp have risen 17.0%. We continue to monitor TROW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle t rowe price grp

Ticker(s): TROW