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Possible Bearish Inside Day Candle Pattern Detected for Southwestrn Engy (NYSE:SWN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Southwestrn Engy (NYSE:SWN) based on the price action in the company's shares. Today's price range of $3.92 and $3.93 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 Southwestrn Engy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Southwestern Energy Company is an independent energy company. The Company primarily focused on natural gas and crude oil exploration, development and production (E&P). Southwestern Energy serves customers in the State of Texas.

Southwestrn Engy share prices have moved between a 52-week high of $6.23 and a 52-week low of $3.23 and are now trading 22% above that low price at $3.93 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.5%.

Southwestrn Engy has overhead space with shares priced $3.93, or 35.1% below the average consensus analyst price target of $6.05. Southwestrn Engy shares should first meet resistance at the 50-day moving average (MA) of $4.41 and find additional resistance at the 200-day MA of $4.76.

SmarTrend is tracking the current trend status for Southwestrn Engy and will alert subscribers who have SWN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle southwestrn engy

Ticker(s): SWN