• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Dte Energy Co (NYSE:DTE)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dte Energy Co (NYSE:DTE) based on the price action in the company's shares. Yesterday's price range of $118.03 and $119.39 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 Dte Energy Co 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, Dte Energy Co share prices have been bracketed by a low of $94.25 and a high of $121.00 and closed yesterday at $118.99, 26% above that low price. The 200-day and 50-day moving averages have moved 0.22% higher and 0.52% higher over the past week, respectively.

DTE Energy Company, a diversified energy company, develops and manages energy-related businesses and services nationwide. The Company, through its subsidiaries, generates, purchases, transmits, distributes, and sells electric energy in southeastern Michigan. DTE is also involved in gas pipelines and storage, unconventional gas exploration, development, and production.

Dte Energy Co (NYSE:DTE) defies analysts with a current price ($118.99) 9.2% above its average consensus price target of $108.00. The stock should find initial support at its 50-day moving average (MA) of $113.87 and further support at its 200-day MA of $107.13.

SmarTrend recommended that subscribers consider buying shares of Dte Energy Co on October 8th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $112.56. Since that recommendation, shares of Dte Energy Co have risen 5.2%. We continue to monitor DTE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle dte energy co

Ticker(s): DTE