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Possible Bearish Inside Day Candle Pattern Detected for Spectra Energ (NYSE:SE)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Spectra Energ (NYSE:SE) based on the price action in the company's shares. Today's price range of $43.74 and $44.33 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 Spectra Energ 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 Spectra Energ have traded between a low of $12.31 and a high of $45.15 and are now at $44.15, which is 259% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.3%.

Spectra Energ (NYSE:SE) is currently priced 7.3% above its average consensus analyst price target of $40.93. The stock should discover initial support at its 50-day moving average (MA) of $38.21 and subsequent support at its 200-day MA of $32.24.

Sea Limited offers information technology services. The Company provides online personal computer and mobile digital content, e-commerce, and payment platforms. Sea serves customers worldwide.

SmarTrend recommended that subscribers consider buying shares of Spectra Energ on November 5th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.65. Since that recommendation, shares of Spectra Energ have risen 44.8%. We continue to monitor SE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle spectra energ

Ticker(s): SE