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Possible Bullish Inside Day Candle Pattern Detected for E*Trade Financia (NASDAQ:ETFC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in E*Trade Financia (NASDAQ:ETFC) based on the price action in the company's shares. Yesterday's price range of $46.71 and $46.99 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 E*Trade Financia may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

E*TRADE Financial Corporation provides online brokerage and related products and services primarily to individual retail investors. The Company's products and services include investor-focused banking, primarily sweep deposits and savings products, and asset gathering.

E*Trade Financia (NASDAQ:ETFC) has potential upside of 45.0% based on a current price of $46.91 and analysts' consensus price target of $68.00. The stock should find initial resistance at its 50-day moving average (MA) of $48.61 and further resistance at its 200-day MA of $50.12.

Over the past year, E*Trade Financia has traded in a range of $40.41 to $66.46 and closed yesterday at $46.91, 16% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.6%.

SmarTrend is tracking the current trend status for E*Trade Financia and will alert subscribers who have ETFC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle e*trade financia

Ticker(s): ETFC