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Possible Bullish Inside Day Candle Pattern Detected for Cme Group Inc (NASDAQ:CME)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cme Group Inc (NASDAQ:CME) based on the price action in the company's shares. Yesterday's price range of $216.00 and $216.80 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 Cme Group Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

CME Group Inc. operates a derivatives exchange that trades futures contracts and options on futures, interest rates, stock indexes, foreign exchange, and commodities. The Company brings together buyers and sellers of derivatives products on its trading floors, electronic trading platform, and through privately negotiated transactions that it clears.

Cme Group Inc (NASDAQ:CME) defies analysts with a current price ($215.54) 19.2% above its average consensus price target of $174.22. The stock should find initial support at its 50-day moving average (MA) of $206.18 and further support at its 200-day MA of $202.64.

In the past 52 weeks, shares of Cme Group Inc have traded between a low of $161.05 and a high of $224.86 and closed yesterday at $215.54, which is 34% 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 0.3%.

SmarTrend is tracking the current trend status for Cme Group Inc and will alert subscribers who have CME in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle cme group inc

Ticker(s): CME