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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 $50.25 and $50.25 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 14.6% above its average consensus analyst price target of $42.91. Exelon Corp shares have support at the 50-day moving average (MA) of $47.86 and additional support at the 200-day MA of $44.73.

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.

In the past 52 weeks, Exelon Corp share prices have been bracketed by a low of $37.45 and a high of $50.47 and are now at $50.25, 34% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Exelon Corp on January 23rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.57. Since that recommendation, shares of Exelon Corp have risen 8.0%. We continue to monitor EXC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle exelon corp

Ticker(s): EXC