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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ameriprise Financial (NYSE:AMP) based on the price action in the company's shares. Today's price range of $86.15 and $87.42 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. Traders and investors interested in shares of Ameriprise Financial 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 has overhead space with shares priced $86.77, or 35.0% below the average consensus analyst price target of $133.56. The stock should find initial resistance at its 50-day moving average (MA) of $93.38 and further resistance at its 200-day MA of $104.07.

In the past 52 weeks, Ameriprise Financial share prices have been bracketed by a low of $76.00 and a high of $130.69 and are now at $86.77, 14% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.6%.

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.

SmarTrend is monitoring the recent change of momentum in Ameriprise Financial. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ameriprise Financial in search of a potential trend change.

Keywords: bullish inside day candle ameriprise financial

Ticker(s): AMP