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Possible Bullish Inside Day Candle Pattern Detected for Ameriprise Finan (NYSE:AMP)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ameriprise Finan (NYSE:AMP) based on the price action in the company's shares. Yesterday's price range of $167.45 and $167.82 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 Ameriprise Finan may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Ameriprise Financial, Inc. is a financial planning and services firm. The Company provides financial planning, products and services that are designed to be utilized as solutions for its clients' cash and liquidity, asset accumulation, income, protection, and estate and wealth transfer needs.

Ameriprise Finan (NYSE:AMP) is currently priced 1.6% above its average consensus analyst price target of $163.55. The stock should find initial support at its 50-day moving average (MA) of $159.58 and further support at its 200-day MA of $145.51.

Over the past year, Ameriprise Finan has traded in a range of $95.69 to $169.74 and closed yesterday at $166.24, 74% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.4%.

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

Keywords: bullish am inside day candle ameriprise finan

Ticker(s): AMP