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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. Today's price range of $97.86 and $98.93 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 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.

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) has potential upside of 9.9% based on a current price of $98.25 and analysts' consensus price target of $108.00. The stock should run into initial resistance at its 50-day moving average (MA) of $101.42 and subsequent resistance at its 200-day MA of $106.12.

Over the past year, Dte Energy Co has traded in a range of $94.25 to $116.74 and is now at $98.25, 4% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.4%.

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

Keywords: bearish inside day candle dte energy co

Ticker(s): DTE