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Possible Bullish Inside Day Candle Pattern Detected for Dte Energy Co (NYSE:DTE)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Dte Energy Co (NYSE:DTE) based on the price action in the company's shares. Yesterday's price range of $102.17 and $102.84 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 Dte Energy Co may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Dte Energy Co has overhead space with shares priced $102.44, or 7.1% below the average consensus analyst price target of $110.27. Dte Energy Co shares have support at the 50-day moving average (MA) of $88.18 and additional support at the 200-day MA of $82.61.

DTE Energy Company, a diversified energy company, develops and manages energy-related businesses and services nationwide. The Company, through its subsidiaries, generates, purchases, transmits, distributes, and sells electric energy in southeastern Michigan. DTE is also involved in gas pipelines and storage, unconventional gas exploration, development, and production.

In the past 52 weeks, shares of Dte Energy Co have traded between a low of $89.66 and a high of $116.74 and closed yesterday at $102.44, which is 14% above that low price. The 200-day and 50-day moving averages have moved 0.32% higher and 0.46% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Dte Energy Co on December 19th, 2017 by issuing a Downtrend alert when the shares were trading at $110.13. Since that call, shares of Dte Energy Co have fallen 7.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle dte energy co

Ticker(s): DTE