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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Interactive Brokers (NASDAQ:IBKR) based on the price action in the company's shares. Today's price range of $34.21 and $34.63 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 Interactive Brokers 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 Interactive Brokers have traded between a low of $20.35 and a high of $45.95 and are now at $34.50, which is 70% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.8%.

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.

There is potential upside of 35.3% for shares of Interactive Brokers based on a current price of $34.50 and an average consensus analyst price target of $46.67. The stock should find initial resistance at its 50-day moving average (MA) of $38.37 and further resistance at its 200-day MA of $39.05.

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

Keywords: bullish inside day candle interactive brokers

Ticker(s): IBKR