• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Clean Energy Fue (NASDAQ:CLNE)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Clean Energy Fue (NASDAQ:CLNE) based on the price action in the company's shares. Yesterday's price range of $3.17 and $3.30 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 Clean Energy Fue 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 103.1% for shares of Clean Energy Fue based on a current price of $3.20 and an average consensus analyst price target of $6.50. The stock should find initial support at its 200-day moving average (MA) of $2.47 and further support at its 50-day MA of $2.17.

Clean Energy Fuels Corporation designs, builds, finances and operates natural gas filling stations for vehicle fleets. The Company also helps its customers acquire and finance natural gas vehicles and obtain local, state, and federal clean air rebates and incentives.

In the past 52 weeks, Clean Energy Fue share prices have been bracketed by a low of $1.46 and a high of $4.05 and closed yesterday at $3.20, 119% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 5.6% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Clean Energy Fue on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.02. Since that recommendation, shares of Clean Energy Fue have risen 58.4%. We continue to monitor CLNE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle clean energy fue

Ticker(s): CLNE