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Possible Bearish Inside Day Candle Pattern Detected for Northwestern Cor (NYSE:NWE)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Northwestern Cor (NYSE:NWE) based on the price action in the company's shares. Yesterday's price range of $71.29 and $71.61 is within the prior day'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 Northwestern Cor may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $71.40, Northwestern Cor is currently 25.1% above its average consensus analyst price target of $53.50. Northwestern Cor shares should encounter resistance at the 50-day moving average (MA) of $71.60 and support at its 200-day MA of $67.60.

Northwestern Cor share prices have moved between a 52-week high of $74.47 and a 52-week low of $56.23 and closed yesterday at 27% above that low price at $71.40 per share. The 200-day and 50-day moving averages have moved 0.27% higher and 0.21% lower over the past week, respectively.

NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas in the Upper Midwest and Northwest serving customers in Montana, South Dakota, and Nebraska.

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

Keywords: bearish am inside day candle northwestern cor

Ticker(s): NWE