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

By Shiri Gupta

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 $4.43 and $4.53 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.

Over the past year, Southwestrn Engy has traded in a range of $3.42 to $15.59 and is now at $4.50, 31% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has advanced 4.8%.

There is potential upside of 43.4% for shares of Southwestrn Engy based on a current price of $4.50 and an average consensus analyst price target of $6.45. The stock should find initial resistance at its 50-day moving average (MA) of $9.06 and further resistance at its 200-day MA of $10.87.

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.

SmarTrend recommended that its subscribers protect gains by selling shares of Southwestrn Engy on December 7th, 2017 by issuing a Downtrend alert when the shares were trading at $5.69. Since that call, shares of Southwestrn Engy have fallen 20.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle southwestrn engy

Ticker(s): SWN