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Possible Bearish Inside Day Candle Pattern Detected for Sm Energy Co (NYSE:SM)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Sm Energy Co (NYSE:SM) based on the price action in the company's shares. Today's price range of $26.15 and $26.49 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 Sm Energy Co 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 Sm Energy Co have traded between a low of $12.29 and a high of $43.09 and are now at $26.26, which is 114% above that low price. The 200-day and 50-day moving averages have moved 0.53% lower and 9.04% higher over the past week, respectively.

Potential upside of 15.6% exists for Sm Energy Co, based on a current level of $26.26 and analysts' average consensus price target of $30.37. Sm Energy Co shares have support at the 200-day moving average (MA) of $25.88 and additional support at the 50-day MA of $20.57.

SM Energy Company is an independent energy company that explores for and produces natural gas and crude oil. The Company's operations are focused on The ArkLaTex, Gulf Coast, Mid-Continent, Rocky Mountains, and Permian Basin regions.

SmarTrend recommended that subscribers consider buying shares of Sm Energy Co on April 11th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.82. Since that recommendation, shares of Sm Energy Co have risen 33.7%. We continue to monitor SM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle sm energy co

Ticker(s): SM