• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Xcel Energy Inc (NASDAQ:XEL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Xcel Energy Inc (NASDAQ:XEL) based on the price action in the company's shares. Yesterday's price range of $70.88 and $71.03 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 Xcel Energy Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $70.79, Xcel Energy Inc is currently 32.7% above its average consensus analyst price target of $47.67. Xcel Energy Inc shares have support at the 50-day moving average (MA) of $65.34 and additional support at the 200-day MA of $62.40.

Xcel Energy, Inc. provides electric and natural gas services. The Company offers a variety of energy-related services including generation, transmission, and distribution of electricity and natural gas throughout the United States. Xcel Energy serves customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin.

In the past 52 weeks, Xcel Energy Inc share prices have been bracketed by a low of $53.35 and a high of $70.78 and closed yesterday at $70.79, 33% above that low price. The 200-day and 50-day moving averages have moved 0.24% higher and 0.55% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Xcel Energy Inc and will alert subscribers who have XEL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle xcel energy inc

Ticker(s): XEL