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

By James Quinn

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. Yesterday's price range of $4.37 and $4.45 is within the prior day'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.

Potential upside of 37.9% exists for Southwestrn Engy, based on a current level of $4.39 and analysts' average consensus price target of $6.05. The stock should find resistance at its 200-day moving average (MA) of $4.91, as well as support at its 50-day MA of $4.39.

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.

In the past 52 weeks, Southwestrn Engy share prices have been bracketed by a low of $3.23 and a high of $6.23 and closed yesterday at $4.39, 36% above that low price. The 200-day and 50-day moving averages have moved 0% lower and 2.55% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Southwestrn Engy on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.03. Since that recommendation, shares of Southwestrn Engy have risen 12.5%. We continue to monitor SWN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle southwestrn engy

Ticker(s): SWN