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Possible Bullish Inside Day Candle Pattern Detected for Northern Trust (NASDAQ:NTRS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Northern Trust (NASDAQ:NTRS) based on the price action in the company's shares. Yesterday's price range of $104.09 and $104.54 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 Northern Trust may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Northern Trust Corporation is a financial holding company that provides investment management, asset and fund administration, fiduciary, and banking solutions for corporations, institutions, and affluent individuals. Northern Trust banking operations are its primary operations.

In the past 52 weeks, shares of Northern Trust have traded between a low of $83.95 and a high of $110.48 and closed yesterday at $104.07, which is 24% above that low price. The 200-day and 50-day moving averages have moved 0.17% higher and 0.06% lower over the past week, respectively.

Northern Trust (NASDAQ:NTRS) has potential upside of 9.5% based on a current price of $104.07 and analysts' consensus price target of $113.94. The stock should find resistance at its 50-day moving average (MA) of $107.11, as well as support at its 200-day MA of $96.36.

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

Keywords: bullish am inside day candle Northern Trust

Ticker(s): NTRS