• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Interpublic Grp (NYSE:IPG)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Interpublic Grp (NYSE:IPG) based on the price action in the company's shares. Yesterday's price range of $23.19 and $23.71 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 Interpublic Grp 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 11.1% exists for Interpublic Grp, based on a current level of $22.72 and analysts' average consensus price target of $25.23. The stock should find resistance at its 50-day moving average (MA) of $23.41, as well as support at its 200-day MA of $22.18.

Over the past year, Interpublic Grp has traded in a range of $19.56 to $25.20 and closed yesterday at $22.72, 16% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

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 and sport marketing, and public relations.

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

Keywords: bullish am inside day candle interpublic grp

Ticker(s): IPG