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Possible Bearish Inside Day Candle Pattern Detected for LPL Investment Holdings (NASDAQ:LPLA)

Published on Thu, 02/21/2013 - 08:25
By Mallory Stone

Analysts have spotted a possible bearish inside day candle pattern in LPL Investment Holdings (NASDAQ:LPLA) based on the price action in the company's shares. Yesterday's price range of $32.49 and $32.77 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. Owners of LPL Investment Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, LPL Investment Holdings has traded in a range of $23.17 to $38.94 and closed yesterday at $32.50, 40% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

LPL Investment Holdings, Inc. offers technology, brokerage and investment advisory services through business relationships with all types of financial advisors. Through proprietary technology, custody and clearing platforms, the Company offers access to financial products and services that enable them to provide financial advice and brokerage services to retail investors.

Potential upside of 3.5% exists for LPL Investment Holdings, based on a current level of $32.50 and analysts' average consensus price target of $33.62. The stock should find initial support at its 50-day moving average (MA) of $30.29 and further support at its 200-day MA of $30.22.

By Mallory Stone