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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. Yesterday's price range of $38.95 and $39.70 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 Alliant Energy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 12.0% for shares of Alliant Energy based on a current price of $39.14 and an average consensus analyst price target of $43.83. Alliant Energy shares have support at the 50-day moving average (MA) of $36.14 and additional support at the 200-day MA of $32.03.

Alliant Energy Corporation provides public-utility services. The Company supplies electricity, natural gas, and water to residential and commercial customers. Alliant Energy serves customers in the States of Illinois, Iowa, Minnesota, and Wisconsin.

In the past 52 weeks, Alliant Energy share prices have been bracketed by a low of $34.88 and a high of $45.55 and closed yesterday at $39.14, 12% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Alliant Energy on December 20th, 2017 by issuing a Downtrend alert when the shares were trading at $42.76. Since that call, shares of Alliant Energy have fallen 7.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle alliant energy

Ticker(s): LNT