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Possible Bearish Inside Day Candle Pattern Detected for Consol Energy (NYSE:CNX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Consol Energy (NYSE:CNX) based on the price action in the company's shares. Today's price range of $15.30 and $15.58 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 Consol Energy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

CONSOL Energy Inc. is a diversified fuel producer. The Company owns and operates mining complexes that contain coal reserves, as well as explores, develops, and produces natural gas, including methane and shale beds. CONSOL Energy operates in the United States.

There is potential upside of 24.6% for shares of Consol Energy based on a current price of $15.30 and an average consensus analyst price target of $19.06. The stock should find initial support at its 50-day moving average (MA) of $11.98 and further support at its 200-day MA of $10.43.

In the past 52 weeks, shares of Consol Energy have traded between a low of $11.69 and a high of $22.34 and are now at $15.30, which is 31% above that low price. The 200-day and 50-day moving averages have moved 0.49% lower and 4.70% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Consol Energy. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Consol Energy in search of a potential trend change.

Keywords: bearish inside day candle consol energy

Ticker(s): CNX