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Possible Bullish Inside Day Candle Pattern Detected for Federated Investors (NYSE:FII)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Federated Investors (NYSE:FII) based on the price action in the company's shares. Today's price range of $26.96 and $27.40 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 Federated Investors 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, Federated Investors share prices have been bracketed by a low of $22.76 and a high of $35.75 and are now at $27.17, 19% above that low price. The 200-day and 50-day moving averages have moved 0.21% lower and 1.45% higher over the past week, respectively.

Federated Investors has overhead space with shares priced $27.17, or 17.1% below the average consensus analyst price target of $32.78. The stock should run into initial resistance at its 50-day moving average (MA) of $29.09 and subsequent resistance at its 200-day MA of $29.39.

Federated Investors, Inc. provides investment management products and related financial services. The Company sponsors, markets and provides investment-related services to various investment products, including mutual funds and Separate Accounts (which include separately managed accounts, institutional accounts, sub-advised funds and other managed products).

SmarTrend recommended that its subscribers protect gains by selling shares of Federated Investors on May 4th, 2016 by issuing a Downtrend alert when the shares were trading at $30.08. Since that call, shares of Federated Investors have fallen 11.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle federated investors

Ticker(s): FII