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Possible Bullish Inside Day Candle Pattern Detected for Interactive Brok (NASDAQ:IBKR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Interactive Brok (NASDAQ:IBKR) based on the price action in the company's shares. Yesterday's price range of $53.99 and $54.89 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 Interactive Brok may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 30.9% exists for Interactive Brok, based on a current level of $53.99 and analysts' average consensus price target of $70.67. Interactive Brok shares should first meet resistance at the 50-day moving average (MA) of $54.13 and find additional resistance at the 200-day MA of $54.67.

In the past 52 weeks, shares of Interactive Brok have traded between a low of $46.40 and a high of $80.32 and closed yesterday at $53.99, which is 16% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

Interactive Brokers Group, Inc. is an automated global electronic market maker and broker specializing in routing orders and executing and processing trades in securities, futures, and foreign exchange instruments.

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

Keywords: bullish am inside day candle interactive brok

Ticker(s): IBKR