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Possible Bullish Inside Day Candle Pattern Detected for Gain Capital Hol (NYSE:GCAP)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Gain Capital Hol (NYSE:GCAP) based on the price action in the company's shares. Yesterday's price range of $5.57 and $5.62 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 Gain Capital Hol may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Gain Capital Holdings, Inc. is an online provider of retail foreign exchange trading and related services. The Company provides customers with access to the global over-the-counter foreign exchange markets through a trading platform with information and analytical tools. Gain Capital Holdings serves customers globally.

In the past 52 weeks, Gain Capital Hol share prices have been bracketed by a low of $5.55 and a high of $8.50 and closed yesterday at $5.57, 0% above that low price. The 200-day and 50-day moving averages have moved 0.43% lower and 0.8% lower over the past week, respectively.

Potential upside of 58.6% exists for Gain Capital Hol, based on a current level of $5.57 and analysts' average consensus price target of $8.83. The stock should run into initial resistance at its 50-day moving average (MA) of $6.65 and subsequent resistance at its 200-day MA of $7.01.

SmarTrend is tracking the current trend status for Gain Capital Hol and will alert subscribers who have GCAP in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle gain capital hol

Ticker(s): GCAP