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Possible Bearish Inside Day Candle Pattern Detected for Terraform Powe-A (NASDAQ:TERP)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Terraform Powe-A (NASDAQ:TERP) based on the price action in the company's shares. Today's price range of $13.87 and $14.00 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 Terraform Powe-A 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, Terraform Powe-A has traded in a range of $9.90 to $14.21 and is now at $13.87, 40% above that low. The 200-day and 50-day moving averages have moved 0.29% higher and 1.06% higher over the past week, respectively.

TerraForm Power, Inc. provides energy services. The Company operates clean power generation assets such as solar, wind, natural gas, geothermal and hydro-electricity. TerraForm Power serves customers in the State of Maryland.

Based on a current price of $13.87, Terraform Powe-A is currently 5.7% above its average consensus analyst price target of $13.08. Terraform Powe-A shares have support at the 50-day moving average (MA) of $12.12 and additional support at the 200-day MA of $11.43.

SmarTrend recommended that subscribers consider buying shares of Terraform Powe-A on February 1st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.84. Since that recommendation, shares of Terraform Powe-A have risen 18.9%. We continue to monitor TERP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle terraform powe-a

Ticker(s): TERP