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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in DTE Energy (NYSE:DTE) based on the price action in the company's shares. Today's price range of $91.05 and $92.08 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. Traders and investors interested in shares of DTE Energy 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 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.

DTE Energy (NYSE:DTE) is currently priced 5.5% above its average consensus analyst price target of $87.00. The stock should find initial support at its 50-day moving average (MA) of $88.18 and further support at its 200-day MA of $82.61.

DTE Energy share prices have moved between a 52-week high of $100.45 and a 52-week low of $73.23 and are now trading 26% above that low price at $92.03 per share. 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 on August 5th, 2016 by issuing a Downtrend alert when the shares were trading at $95.82. Since that call, shares of DTE Energy have fallen 5.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle DTE Energy

Ticker(s): DTE