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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Xcel Energy (NYSE:XEL) based on the price action in the company's shares. Today's price range of $42.53 and $42.89 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 Xcel Energy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Xcel Energy (NYSE:XEL) is currently priced 12.8% above its average consensus analyst price target of $37.12. Xcel Energy shares have support at the 50-day moving average (MA) of $40.54 and additional support at the 200-day MA of $36.92.

In the past 52 weeks, shares of Xcel Energy have traded between a low of $31.76 and a high of $45.42 and are now at $42.54, which is 34% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.4%.

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 utilities serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.

SmarTrend is monitoring the recent change of momentum in Xcel Energy. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Xcel Energy in search of a potential trend change.

Keywords: bearish inside day candle xcel energy

Ticker(s): XEL