• Return to Headlines

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 $14.93 and $14.94 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.

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.

Sm Energy Co share prices have moved between a 52-week high of $33.76 and a 52-week low of $13.15 and are now trading 14% above that low price at $14.94 per share. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 1%.

Sm Energy Co (NYSE:SM) has potential upside of 103.3% based on a current price of $14.94 and analysts' consensus price target of $30.37. The stock should run into initial resistance at its 50-day moving average (MA) of $16.72 and subsequent resistance at its 200-day MA of $22.29.

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

Keywords: bearish inside day candle sm energy co

Ticker(s): SM