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Possible Bearish Inside Day Candle Pattern Detected for Duke Energy Corp (NYSE:DUK)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Duke Energy Corp (NYSE:DUK) based on the price action in the company's shares. Today's price range of $89.72 and $89.72 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 Duke Energy Corp 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, shares of Duke Energy Corp have traded between a low of $78.00 and a high of $91.67 and are now at $89.72, which is 15% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

Duke Energy Corp (NYSE:DUK) is currently priced 8.6% above its average consensus analyst price target of $82.00. The stock should find initial support at its 50-day moving average (MA) of $87.91 and further support at its 200-day MA of $87.35.

Duke Energy Corporation is an energy company located primarily in the Americas that owns an integrated network of energy assets. The Company manages a portfolio of natural gas and electric supply, delivery, and trading businesses in the United States and Latin America.

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

Keywords: bearish inside day candle duke energy corp

Ticker(s): DUK