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

By Nick Russo

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 $77.27 and $77.27 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.

In the past 52 weeks, Dominion Energy share prices have been bracketed by a low of $61.53 and a high of $77.91 and are now at $77.27, 26% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

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.

Based on a current price of $77.27, Dominion Energy is currently 4.2% above its average consensus analyst price target of $74.00. The stock should discover initial support at its 50-day moving average (MA) of $76.01 and subsequent support at its 200-day MA of $73.20.

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

Keywords: bearish inside day candle dominion energy

Ticker(s): D