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Possible Bearish Inside Day Candle Pattern Detected for Pdc Energy Inc (NASDAQ:PDCE)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Pdc Energy Inc (NASDAQ:PDCE) based on the price action in the company's shares. Today's price range of $45.95 and $45.95 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 Pdc Energy 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 Pdc Energy Inc have traded between a low of $26.59 and a high of $66.20 and are now at $45.95, which is 73% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.3%.

PDC Energy, Inc. produces and distributes petroleum products. The Company produces, develops, explores and markets crude oil, natural gas and natural gas liquids. PDC Energy conducts its business operations in the United States.

Pdc Energy Inc has overhead space with shares priced $45.95, or 33.9% below the average consensus analyst price target of $69.50. Pdc Energy Inc shares have support at the 200-day moving average (MA) of $43.90 and additional support at the 50-day MA of $40.36.

SmarTrend is tracking the current trend status for Pdc Energy Inc and will alert subscribers who have PDCE in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle pdc energy inc

Ticker(s): PDCE