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Possible Bullish Inside Day Candle Pattern Detected for Ally Financial I (NYSE:ALLY)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ally Financial I (NYSE:ALLY) based on the price action in the company's shares. Yesterday's price range of $30.17 and $30.58 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. Traders and investors interested in shares of Ally Financial I may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Ally Financial I share prices have been bracketed by a low of $20.60 and a high of $35.42 and closed yesterday at $30.45, 48% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.6%.

Ally Financial Inc. operates as a financial holding company. The Company offers automotive financial services. Ally Financial serves clients in the United States.

Ally Financial I (NYSE:ALLY) has potential upside of 11.3% based on a current price of $30.45 and analysts' consensus price target of $33.89. The stock should find resistance at its 50-day moving average (MA) of $32.24, as well as support at its 200-day MA of $29.27.

SmarTrend is tracking the current trend status for Ally Financial I and will alert subscribers who have ALLY in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle ally financial i

Ticker(s): ALLY