• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Nisource Inc (NYSE:NI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Nisource Inc (NYSE:NI) based on the price action in the company's shares. Today's price range of $28.60 and $28.60 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 Nisource Inc 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, shares of Nisource Inc have traded between a low of $23.04 and a high of $28.80 and are now at $28.60, which is 24% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.9%.

Based on a current price of $28.60, Nisource Inc is currently 5.5% above its average consensus analyst price target of $27.02. The stock should discover initial support at its 50-day moving average (MA) of $26.95 and subsequent support at its 200-day MA of $26.18.

NiSource Inc. is an energy holding company. The Company's subsidiaries provide natural gas, electricity, and other products and services to customers located within a corridor that runs from the Gulf Coast through the Midwest to New England.

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

Keywords: bearish inside day candle nisource inc

Ticker(s): NI