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

By James Quinn

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. Yesterday's price range of $68.80 and $69.45 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 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 share prices have moved between a 52-week high of $82.50 and a 52-week low of $63.57 and closed yesterday at 9% above that low price at $69.27 per share. 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 has overhead space with shares priced $69.27, or 13.2% below the average consensus analyst price target of $79.76. The stock should run into initial resistance at its 200-day moving average (MA) of $72.32 and subsequent resistance at its 50-day MA of $73.70.

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 tracking the current trend status for T Rowe Price 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

Ticker(s): TROW