• Return to Headlines

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

By David Diaz

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 $29.46 and $29.57 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.

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.

Nisource Inc (NYSE:NI) defies analysts with a current price ($29.54) 8.5% above its average consensus price target of $27.02. The stock should find initial support at its 50-day moving average (MA) of $29.10 and further support at its 200-day MA of $27.56.

Over the past year, Nisource Inc has traded in a range of $24.19 to $30.34 and is now at $29.54, 22% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.2%.

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