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

By Shiri Gupta

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. Yesterday's price range of $76.43 and $77.12 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 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 $81.39 and closed yesterday at $77.01, 18% above that low. The 200-day and 50-day moving averages have moved 0.17% higher and 0.05% lower 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) is currently priced 1.4% above its average consensus analyst price target of $75.92. The stock should find resistance at its 50-day moving average (MA) of $77.84, as well as support at its 200-day MA of $73.27.

SmarTrend is monitoring the recent change of momentum in Duke Energy. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Duke Energy in search of a potential trend change.

Keywords: bullish am inside day candle Duke Energy

Ticker(s): DUK