• Return to Headlines

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

By Nick Russo

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 $42.69 and $42.99 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 financial services. The Company offers common stock and debt information, financial statement filling, analysis, investor presentation, and portfolio management, as well as retirement planning and investment services. E*TRADE Financial serves customers in the United States.

In the past 52 weeks, shares of E*Trade Financia have traded between a low of $27.34 and a high of $47.81 and closed yesterday at $42.00, which is 54% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 0.2%.

E*Trade Financia has overhead space with shares priced $42.00, or 38.2% below the average consensus analyst price target of $68.00. The stock should run into initial resistance at its 200-day moving average (MA) of $44.73 and subsequent resistance at its 50-day MA of $45.24.

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