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

By Amy Schwartz

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 $126.60 and $129.35 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.

T Rowe Price Grp (NASDAQ:TROW) defies analysts with a current price ($126.61) 3.4% above its average consensus price target of $122.33. The stock should find resistance at its 50-day moving average (MA) of $130.26, as well as support at its 200-day MA of $116.49.

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.

In the past 52 weeks, shares of T Rowe Price Grp have traded between a low of $95.07 and a high of $139.82 and closed yesterday at $126.61, which is 33% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.2%.

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

Keywords: bullish am inside day candle t rowe price grp

Ticker(s): TROW