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Possible Bullish Inside Day Candle Pattern Detected for Charles Schwab (NASDAQ:SCHW)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Charles Schwab (NASDAQ:SCHW) based on the price action in the company's shares. Today's price range of $24.41 and $24.83 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 Charles Schwab may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 38.7% for shares of Charles Schwab based on a current price of $24.65 and an average consensus analyst price target of $34.19. The stock should find initial resistance at its 50-day moving average (MA) of $27.81 and further resistance at its 200-day MA of $29.65.

In the past 52 weeks, Charles Schwab share prices have been bracketed by a low of $21.51 and a high of $35.72 and are now at $24.65, 15% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.5%.

The Charles Schwab Corporation provides a variety of financial services to individual investors, independent investment managers, retirement plans, and institutions. The Company provides its clients with securities brokerage, banking, and related financial services through offices in the United States, Puerto Rico, and the United Kingdom.

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

Keywords: bullish inside day candle Charles Schwab

Ticker(s): SCHW