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Possible Bullish Inside Day Candle Pattern Detected for Cme Group Inc (NASDAQ:CME)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cme Group Inc (NASDAQ:CME) based on the price action in the company's shares. Yesterday's price range of $199.20 and $200.19 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 Cme Group Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Cme Group Inc have traded between a low of $161.05 and a high of $224.86 and closed yesterday at $200.72, which is 25% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 0.34% lower over the past week, respectively.

CME Group Inc. operates a derivatives exchange that trades futures contracts and options on futures, interest rates, stock indexes, foreign exchange, and commodities. The Company brings together buyers and sellers of derivatives products on its trading floors, electronic trading platform, and through privately negotiated transactions that it clears.

Based on a current price of $200.72, Cme Group Inc is currently 13.2% above its average consensus analyst price target of $174.22. The stock should find resistance at its 50-day moving average (MA) of $203.28, as well as support at its 200-day MA of $198.01.

SmarTrend is tracking the current trend status for Cme Group Inc and will alert subscribers who have CME in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle cme group inc

Ticker(s): CME