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

By Shiri Gupta

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. Today's price range of $3.35 and $3.35 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 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.

Clean Energy Fue share prices have moved between a 52-week high of $4.05 and a 52-week low of $1.54 and are now trading 118% above that low price at $3.35 per share. The 200-day and 50-day moving averages have moved 0.04% lower and 2.39% higher over the past week, respectively.

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.

Clean Energy Fue (NASDAQ:CLNE) has potential upside of 94.0% based on a current price of $3.35 and analysts' consensus price target of $6.50. The stock should discover initial support at its 50-day moving average (MA) of $2.70 and subsequent support at its 200-day MA of $2.45.

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

Keywords: bearish inside day candle clean energy fue

Ticker(s): CLNE