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Possible Bullish Inside Day Candle Pattern Detected for Black Hills Corp (NYSE:BKH)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Black Hills Corp (NYSE:BKH) based on the price action in the company's shares. Yesterday's price range of $74.11 and $75.58 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. Traders and investors interested in shares of Black Hills Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Black Hills Corporation is a diversified energy company. The Company generates wholesale electricity, produce natural gas, oil and coal, and market energy. Black Hills serves customers in Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming.

Black Hills Corp (NYSE:BKH) is currently priced 20.0% above its average consensus analyst price target of $60.40. Black Hills Corp shares should encounter resistance at the 50-day moving average (MA) of $76.98 and support at its 200-day MA of $75.10.

In the past 52 weeks, Black Hills Corp share prices have been bracketed by a low of $59.49 and a high of $82.01 and closed yesterday at $75.50, 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.

SmarTrend is tracking the current trend status for Black Hills Corp and will alert subscribers who have BKH in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle black hills corp

Ticker(s): BKH