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

By Nick Russo

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 $46.00 and $46.64 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.

Exelon Corp (NYSE:EXC) is currently priced 7.6% above its average consensus analyst price target of $42.91. Exelon Corp shares should first meet resistance at the 50-day moving average (MA) of $47.13 and find additional resistance at the 200-day MA of $48.09.

Over the past year, Exelon Corp has traded in a range of $43.02 to $51.18 and is now at $46.42, 8% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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 tracking the current trend status for Exelon Corp and will alert subscribers who have EXC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle exelon corp

Ticker(s): EXC