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Possible Bearish Inside Day Candle Pattern Detected for Exelon Corp (NYSE:EXC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Exelon Corp (NYSE:EXC) based on the price action in the company's shares. Today's price range of $49.92 and $50.18 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 Exelon 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, Exelon Corp share prices have been bracketed by a low of $40.97 and a high of $51.18 and are now at $49.92, 22% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

Based on a current price of $49.92, Exelon Corp is currently 14.0% above its average consensus analyst price target of $42.91. The stock should discover initial support at its 50-day moving average (MA) of $49.52 and subsequent support at its 200-day MA of $46.97.

Exelon Corporation is a utility services holding company. The Company, through its subsidiaries, distributes electricity to customers in Illinois and Pennsylvania. Exelon also distributes gas to customers in the Philadelphia area as well as operates nuclear power plants in states that include Pennsylvania and New Jersey.

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

Keywords: bearish inside day candle exelon corp

Ticker(s): EXC