• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Gulfport Energy (NASDAQ:GPOR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Gulfport Energy (NASDAQ:GPOR) based on the price action in the company's shares. Today's price range of $11.95 and $12.11 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 Gulfport Energy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Gulfport Energy Corporation owns and operates oil and gas properties in the Louisiana Gulf Coast area of the United States.

Over the past year, Gulfport Energy has traded in a range of $10.90 to $34.26 and is now at $11.96, 10% above that low. The 200-day and 50-day moving averages have moved 0.61% lower and 0.38% higher over the past week, respectively.

Gulfport Energy has overhead space with shares priced $11.96, or 49.2% below the average consensus analyst price target of $23.55. The stock should run into initial resistance at its 50-day moving average (MA) of $27.92 and subsequent resistance at its 200-day MA of $29.03.

SmarTrend recommended that its subscribers protect gains by selling shares of Gulfport Energy on December 15th, 2016 by issuing a Downtrend alert when the shares were trading at $23.70. Since that call, shares of Gulfport Energy have fallen 48.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle gulfport energy

Ticker(s): GPOR