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Possible Bearish Inside Day Candle Pattern Detected for Alliant Energy (NYSE:LNT)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Alliant Energy (NYSE:LNT) based on the price action in the company's shares. Today's price range of $38.55 and $38.79 is within yesterday'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 Alliant Energy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Alliant Energy has overhead space with shares priced $38.72, or 40.0% below the average consensus analyst price target of $64.57. The stock should find initial support at its 50-day moving average (MA) of $36.14 and further support at its 200-day MA of $32.03.

Alliant Energy share prices have moved between a 52-week high of $40.99 and a 52-week low of $27.14 and are now trading 43% above that low price at $38.72 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.2%.

Alliant Energy Corporation provides public-utility service to customers in the Midwest. The Company's utility subsidiaries serve electric, natural gas, and water customers in Illinois, Iowa, Minnesota, and Wisconsin.

SmarTrend is tracking the current trend status for Alliant Energy and will alert subscribers who have LNT in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle alliant energy

Ticker(s): LNT