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

By James Quinn

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 $97.11 and $98.99 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 Finl (NYSE:BR) has potential upside of 23.0% based on a current price of $97.53 and analysts' consensus price target of $120.00. The stock should find initial resistance at its 50-day moving average (MA) of $98.99 and further resistance at its 200-day MA of $114.41.

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 $87.51 to $138.24 and closed yesterday at $97.53, 11% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.2%.

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

Keywords: bullish am inside day candle broadridge finl

Ticker(s): BR