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Possible Bearish Inside Day Candle Pattern Detected for Questar (NYSE:STR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Questar (NYSE:STR) based on the price action in the company's shares. Today's price range of $25.04 and $25.10 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 Questar 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 Questar have traded between a low of $18.02 and a high of $25.35 and are now at $25.10, which is 39% 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 remained constant.

Based on a current price of $25.10, Questar is currently 19.1% above its average consensus analyst price target of $20.30. Questar shares have support at the 50-day moving average (MA) of $24.91 and additional support at the 200-day MA of $21.47.

Questar Corporation is a natural gas-focused energy company. The Company's operations include gas and oil exploration and production, midstream field services, energy marketing, interstate gas transportation, and retail gas distribution.

SmarTrend recommended that subscribers consider buying shares of Questar on December 24th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.74. Since that recommendation, shares of Questar have risen 27.2%. We continue to monitor STR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle questar

Ticker(s): STR