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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Duke Energy (NYSE:DUK) based on the price action in the company's shares. Today's price range of $81.84 and $82.56 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 may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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.

In the past 52 weeks, Duke Energy share prices have been bracketed by a low of $65.50 and a high of $87.31 and are now at $81.84, 25% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

Duke Energy (NYSE:DUK) defies analysts with a current price ($81.84) 7.2% above its average consensus price target of $75.92. Duke Energy shares have support at the 50-day moving average (MA) of $78.37 and additional support at the 200-day MA of $73.48.

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

Keywords: bearish inside day candle Duke Energy

Ticker(s): DUK