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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in T Rowe Price Grp (NASDAQ:TROW) based on the price action in the company's shares. Today's price range of $102.95 and $107.95 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. Owners of T Rowe Price Grp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

T Rowe Price Grp has overhead space with shares priced $104.75, or 14.4% below the average consensus analyst price target of $122.33. The stock should run into initial resistance at its 200-day moving average (MA) of $117.21 and subsequent resistance at its 50-day MA of $127.16.

T Rowe Price Grp share prices have moved between a 52-week high of $139.82 and a 52-week low of $88.30 and are now trading 19% above that low price at $104.75 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.9%.

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 Grp and will alert subscribers who have TROW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle t rowe price grp

Ticker(s): TROW