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

By David Diaz

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 $80.46 and $80.79 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.

Over the past year, Duke Energy has traded in a range of $65.50 to $87.75 and is now at $80.50, 23% above that low. 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.

Duke Energy (NYSE:DUK) defies analysts with a current price ($80.50) 0.0% above its average consensus price target of $80.50. The stock should find initial support at its 50-day moving average (MA) of $78.37 and further support at its 200-day MA of $73.48.

SmarTrend recommended that subscribers consider buying shares of Duke Energy on December 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $77.54. Since that recommendation, shares of Duke Energy have risen 3.6%. We continue to monitor DUK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle Duke Energy

Ticker(s): DUK