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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in T Rowe Price (NASDAQ:TROW) based on the price action in the company's shares. Today's price range of $69.05 and $69.59 is within yesterday'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 may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, T Rowe Price has traded in a range of $63.57 to $82.50 and is now at $69.31, 9% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

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.

Potential upside of 15.1% exists for T Rowe Price, based on a current level of $69.31 and analysts' average consensus price target of $79.76. The stock should find initial resistance at its 200-day moving average (MA) of $72.32 and further resistance at its 50-day MA of $73.70.

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

Keywords: bullish inside day candle t rowe price

Ticker(s): TROW