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Possible Bullish Inside Day Candle Pattern Detected for Interpublic Group of Cos (NYSE:IPG)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Interpublic Group of Cos (NYSE:IPG) based on the price action in the company's shares. Today's price range of $22.09 and $22.41 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 Interpublic Group of Cos may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

The Interpublic Group of Companies, Inc. is an organization of advertising agencies and marketing service companies. The Company operates globally in the sectors of advertising, independent media buying, direct marketing, healthcare communications, interactive consulting services, marketing research, promotions, experiential marketing, public relations, and sports marketing.

Over the past year, Interpublic Group of Cos has traded in a range of $18.16 to $24.82 and is now at $22.40, 23% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

Interpublic Group of Cos has overhead space with shares priced $22.40, or 8.5% below the average consensus analyst price target of $24.48. Interpublic Group of Cos shares have support at the 50-day moving average (MA) of $22.40 and additional support at the 200-day MA of $21.70.

SmarTrend is tracking the current trend status for Interpublic Group of Cos and will alert subscribers who have IPG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle interpublic group of cos

Ticker(s): IPG