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Possible Bullish Inside Day Candle Pattern Detected for T Rowe Price Grp (NASDAQ:TROW)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in T Rowe Price Grp (NASDAQ:TROW) based on the price action in the company's shares. Yesterday's price range of $92.55 and $92.99 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 T Rowe Price 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.

In the past 52 weeks, shares of T Rowe Price Grp have traded between a low of $84.59 and a high of $127.43 and closed yesterday at $92.67, which is 10% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.

T Rowe Price Grp (NASDAQ:TROW) has potential upside of 32.0% based on a current price of $92.67 and analysts' consensus price target of $122.33. The stock should run into initial resistance at its 50-day moving average (MA) of $92.84 and subsequent resistance at its 200-day MA of $107.61.

T. Rowe Price Group Inc. is a financial services holding company. The Company, through its subsidiaries, provides investment advisory services to individual and institutional investors. T. Rowe manages a broad range of U.S. and international stock, blended asset, bond, and money market mutual funds and other investment portfolios.

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

Keywords: bullish am inside day candle t rowe price grp

Ticker(s): TROW