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

By David Diaz

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. Today's price range of $98.01 and $98.02 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 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 Corp share prices have moved between a 52-week high of $98.10 and a 52-week low of $75.78 and are now trading 29% above that low price at $98.02 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

Entergy Corp (NYSE:ETR) is currently priced 12.9% above its average consensus analyst price target of $85.35. Entergy Corp shares have support at the 50-day moving average (MA) of $95.16 and additional support at the 200-day MA of $88.17.

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.

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 inside day candle Entergy Corp

Ticker(s): ETR