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

By Amy Schwartz

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. Yesterday's price range of $51.45 and $52.39 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 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 $15.35 and a high of $52.51 and closed yesterday at $51.85, which is 238% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.5% while the 50-day MA has advanced 2.7%.

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.

Spectra Energ (NYSE:SE) defies analysts with a current price ($51.85) 21.1% above its average consensus price target of $40.93. The stock should discover initial support at its 50-day moving average (MA) of $42.62 and subsequent support at its 200-day MA of $34.70.

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

Keywords: bearish am inside day candle spectra energ

Ticker(s): SE