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Possible Bearish Inside Day Candle Pattern Detected for Td Ameritrade Ho (NASDAQ:AMTD)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Td Ameritrade Ho (NASDAQ:AMTD) based on the price action in the company's shares. Yesterday's price range of $57.12 and $58.21 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 Td Ameritrade Ho may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Td Ameritrade Ho have traded between a low of $41.88 and a high of $63.01 and closed yesterday at $57.49, which is 37% above that low price. The 200-day and 50-day moving averages have moved 0.29% higher and 0.35% lower over the past week, respectively.

Td Ameritrade Ho (NASDAQ:AMTD) has potential upside of 16.4% based on a current price of $57.49 and analysts' consensus price target of $66.94. Td Ameritrade Ho shares should encounter resistance at the 50-day moving average (MA) of $58.73 and support at its 200-day MA of $55.46.

TD Ameritrade Holding Corporation provides online brokerage services. The Company, through its private client and institutional client divisions, provides tiered levels of brokerage products and services tailored to meet the varying investing, trading, and execution needs of self-directed individual investors, financial institutions, and corporations.

SmarTrend is tracking the current trend status for Td Ameritrade Ho and will alert subscribers who have AMTD in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle td ameritrade ho

Ticker(s): AMTD