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Possible Bullish Inside Day Candle Pattern Detected for Broadridge Finl (NYSE:BR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Broadridge Finl (NYSE:BR) based on the price action in the company's shares. Yesterday's price range of $117.91 and $117.91 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 Broadridge Finl may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Broadridge Financial Solutions, Inc. provides technology-based outsourcing solutions to the financial services industry. The Company offers a broad range of solutions that help clients serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade, and post-trade processing.

Over the past year, Broadridge Finl has traded in a range of $93.77 to $136.99 and closed yesterday at $120.70, 29% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has remained constant.

Broadridge Finl (NYSE:BR) is currently priced 0.6% above its average consensus analyst price target of $120.00. Broadridge Finl shares should first meet resistance at the 50-day moving average (MA) of $124.41 and find additional resistance at the 200-day MA of $125.25.

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

Keywords: bullish am inside day candle broadridge finl

Ticker(s): BR