• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Raymond James Financial (NYSE:RJF)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Raymond James Financial (NYSE:RJF) based on the price action in the company's shares. Yesterday's price range of $78.76 and $79.62 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 Raymond James Financial may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Raymond James Financial has overhead space with shares priced $79.22, or 3.9% below the average consensus analyst price target of $82.43. Raymond James Financial shares have support at the 200-day moving average (MA) of $51.74 and additional support at the 50-day MA of $48.03.

Raymond James Financial, Inc. provides financial services to individuals, corporations, and municipalities through its subsidiary investment firms. The Company operates throughout the United States, Canada and overseas.

In the past 52 weeks, shares of Raymond James Financial have traded between a low of $39.84 and a high of $81.92 and closed yesterday at $79.22, which is 99% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.3%.

SmarTrend recommended that subscribers consider buying shares of Raymond James Financial on January 6th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $74.13. Since that recommendation, shares of Raymond James Financial have risen 6.1%. We continue to monitor RJF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle raymond james financial

Ticker(s): RJF