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Possible Bullish Inside Day Candle Pattern Detected for Principal Financial Group (NYSE:PFG)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Principal Financial Group (NYSE:PFG) based on the price action in the company's shares. Yesterday's price range of $45.32 and $45.94 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 Principal Financial Group may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Principal Financial Group, Inc. offers businesses, individuals and institutional clients a range of financial products and services. The Company offers retirement solutions, life and health insurance, wellness programs, and investment and banking products.

Principal Financial Group share prices have moved between a 52-week high of $58.02 and a 52-week low of $33.09 and closed yesterday at 39% above that low price at $45.83 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.5%.

Potential upside of 15.3% exists for Principal Financial Group, based on a current level of $45.83 and analysts' average consensus price target of $52.82. The stock should discover initial support at its 200-day moving average (MA) of $45.50 and subsequent support at its 50-day MA of $40.52.

SmarTrend is tracking the current trend status for Principal Financial Group and will alert subscribers who have PFG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle Principal Financial Group

Ticker(s): PFG