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

By James Quinn

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 $3.28 and $3.28 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 (NASDAQ:GPOR) has potential upside of 342.6% based on a current price of $3.28 and analysts' consensus price target of $14.52. The stock should find initial resistance at its 50-day moving average (MA) of $3.32 and further resistance at its 200-day MA of $6.28.

In the past 52 weeks, Gulfport Energy share prices have been bracketed by a low of $2.28 and a high of $11.94 and are now at $3.28, 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 4.9% while the 200-day MA has slid 2.2%.

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

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

Keywords: bearish inside day candle gulfport energy

Ticker(s): GPOR