TD Ameritrade Bullish Engulfing Formed

amtd New York, April 8th (TradersHuddle.com) - Shares of TD Ameritrade Holding Corporation (NASDAQ:AMTD) ended the trading session higher by $0.16 or 0.83% from its previous close. TD Ameritrade's price action formed what is considered to be a bullish engulfing candle that could very well signal a continuation of trend or reversal of the ongoing weakness.

TD Ameritrade Holding Corporation (NASDAQ:AMTD) provides online brokerage services to the investmnet community. The Company provides tiered levels of brokerage products and services tailored to meet the varying investing, trading, and execution needs of independent individual investors, financial institutions, and corporations.

TD Ameritrade's recent stock range was formed by a trough where calculated support was defined at $19.03 and by a peak that established the resistance level at $21.56. This range could be used by traders managing their positions.

Traders wanting to establish a position in TD Ameritrade or traders that are already holding the stock can use the bullish engulfing pattern to their advantage. The pattern provides a defined risk, as it shows where the bears were able to push the stock down, before the bulls step in with a bid.

The bullish engulfing pattern is a leading indicator that provides an alert to the bulls that the trend will continue or that there is an immediate reversal to the short-term weakness seen on the stock. Below an Engulfing Bullish Candle Illustration:

Note - Automated Content Created By TradersHuddle's Technical Scanner




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