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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Duke Energy (NYSE:DUK) based on the price action in the company's shares. Today's price range of $77.31 and $77.84 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 Duke 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.

In the past 52 weeks, Duke Energy share prices have been bracketed by a low of $65.50 and a high of $87.75 and are now at $77.50, 18% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

Duke Energy (NYSE:DUK) is currently priced 2.0% above its average consensus analyst price target of $75.92. The stock should find resistance at its 50-day moving average (MA) of $78.37, as well as support at its 200-day MA of $73.48.

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 and will alert subscribers who have DUK in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle Duke Energy

Ticker(s): DUK