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Possible Bullish Inside Day Candle Pattern Detected for TD Ameritrade Holding (NASDAQ:AMTD)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in TD Ameritrade Holding (NASDAQ:AMTD) based on the price action in the company's shares. Today's price range of $26.77 and $27.36 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 TD Ameritrade Holding 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, TD Ameritrade Holding share prices have been bracketed by a low of $24.88 and a high of $39.05 and are now at $27.05, 9% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has slid 0.6%.

There is potential upside of 38.9% for shares of TD Ameritrade Holding based on a current price of $27.05 and an average consensus analyst price target of $37.56. The stock should find initial resistance at its 50-day moving average (MA) of $30.88 and further resistance at its 200-day MA of $32.57.

TD Ameritrade Holding Corporation provides online brokerage services. The Company, through its private client and institutional client divisions, provides tiered levels of brokerage products and services tailored to meet the varying investing, trading, and execution needs of self-directed individual investors, financial institutions, and corporations.

SmarTrend recommended that its subscribers protect gains by selling shares of TD Ameritrade Holding on June 10th, 2016 by issuing a Downtrend alert when the shares were trading at $30.15. Since that call, shares of TD Ameritrade Holding have fallen 11.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle td ameritrade holding

Ticker(s): AMTD