• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Entergy Corp (NYSE:ETR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Entergy Corp (NYSE:ETR) based on the price action in the company's shares. Yesterday's price range of $90.33 and $91.21 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 Entergy Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Entergy Corporation is an integrated energy company that is primarily focused on electric power production and retail electric distribution operations. The Company delivers electricity to utility customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy also owns and operates nuclear plants in the northern United States.

Entergy Corp (NYSE:ETR) is currently priced 6.4% above its average consensus analyst price target of $85.35. The stock should find initial support at its 50-day moving average (MA) of $87.58 and further support at its 200-day MA of $83.54.

In the past 52 weeks, shares of Entergy Corp have traded between a low of $73.55 and a high of $92.15 and closed yesterday at $91.19, which is 24% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.2%.

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

Keywords: bearish am inside day candle Entergy Corp

Ticker(s): ETR