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Possible Bearish Inside Day Candle Pattern Detected for Dominion Energy (NYSE:D)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dominion Energy (NYSE:D) based on the price action in the company's shares. Today's price range of $76.66 and $76.66 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 Dominion Energy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Dominion Energy (NYSE:D) is currently priced 3.5% above its average consensus analyst price target of $74.00. The stock should discover initial support at its 50-day moving average (MA) of $75.17 and subsequent support at its 200-day MA of $72.49.

Dominion Energy, Inc. produces and transports energy products. The Company offers natural gas and electric energy transmission, gathering, and storage solutions. Dominion Energy serves customers in the United States.

Dominion Energy share prices have moved between a 52-week high of $77.50 and a 52-week low of $61.53 and are now trading 25% above that low price at $76.66 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.2%.

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

Keywords: bearish inside day candle dominion energy

Ticker(s): D