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

By James Quinn

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 $78.33 and $78.99 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.

In the past 52 weeks, shares of Duke Energy have traded between a low of $65.50 and a high of $81.39 and are now at $78.34, which is 20% above that low price. The 200-day and 50-day moving averages have moved 0.16% higher and 0.48% higher over the past week, respectively.

Duke Energy (NYSE:DUK) is currently priced 3.1% above its average consensus analyst price target of $75.92. The stock should hit resistance at its 50-day moving average (MA) of $78.37, as well as support at its 200-day MA of $73.48.

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 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