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Possible Bearish Inside Day Candle Pattern Detected for Nrg Energy (NYSE:NRG)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Nrg Energy (NYSE:NRG) based on the price action in the company's shares. Today's price range of $25.13 and $25.46 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 Nrg Energy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

NRG Energy, Inc. owns and operates a diverse portfolio of power-generating facilities, primarily in the United States. The Company's operations include energy production and cogeneration facilities, thermal energy production, and energy resource recovery facilities.

Based on a current price of $25.30, Nrg Energy is currently 16.2% above its average consensus analyst price target of $21.20. Nrg Energy shares have support at the 200-day moving average (MA) of $14.06 and additional support at the 50-day MA of $13.30.

In the past 52 weeks, shares of Nrg Energy have traded between a low of $9.84 and a high of $25.68 and are now at $25.30, which is 157% above that low price. The 200-day and 50-day moving averages have moved 1.01% lower and 2.57% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Nrg Energy on May 23rd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.33. Since that recommendation, shares of Nrg Energy have risen 56.0%. We continue to monitor NRG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle NRG Energy

Ticker(s): NRG