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

By Shiri Gupta

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. Yesterday's price range of $33.80 and $34.63 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 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.

Interactive Brokers share prices have moved between a 52-week high of $45.95 and a 52-week low of $20.35 and closed yesterday at 69% above that low price at $34.30 per share. The 200-day and 50-day moving averages have moved 0.38% lower and 0.82% higher over the past week, respectively.

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.

Interactive Brokers has overhead space with shares priced $34.30, or 26.5% below the 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 am inside day candle interactive brokers

Ticker(s): IBKR