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Possible Bullish Inside Day Candle Pattern Detected for Duke Energy Corp (NYSE:DUK)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Duke Energy Corp (NYSE:DUK) based on the price action in the company's shares. Yesterday's price range of $76.26 and $76.99 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 Duke Energy 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.

There is potential upside of 7.4% for shares of Duke Energy Corp based on a current price of $76.67 and an average consensus analyst price target of $82.31. Duke Energy Corp shares should encounter resistance at the 50-day moving average (MA) of $78.37 and support at its 200-day MA of $73.48.

Duke Energy Corp share prices have moved between a 52-week high of $91.80 and a 52-week low of $72.34 and closed yesterday at 6% above that low price at $76.67 per share. The 200-day and 50-day moving averages have moved 0.16% higher and 0.48% higher over the past week, respectively.

Duke Energy Corporation is an energy company located primarily in the Americas that owns an integrated network of energy assets. The Company manages a portfolio of natural gas and electric supply, delivery, and trading businesses in the United States and Latin America.

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

Keywords: bullish am inside day candle duke energy corp

Ticker(s): DUK