• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Exelon (NYSE:EXC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Exelon (NYSE:EXC) based on the price action in the company's shares. Today's price range of $34.00 and $34.20 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 Exelon may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Exelon Corporationis utility services holding company. The Company, through its subsidiaries distributes electricity to customers in Illinois and Pennsylvania. Exelon also distributes gas to customers in the Philadelphia area as well as operates nuclear power plants in states that include Pennsylvania and New Jersey.

In the past 52 weeks, Exelon share prices have been bracketed by a low of $25.09 and a high of $37.70 and are now at $34.09, 36% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has remained constant.

Exelon has overhead space with shares priced $34.09, or 0.3% below the average consensus analyst price target of $34.20. The stock should find resistance at its 50-day moving average (MA) of $34.43, as well as support at its 200-day MA of $30.81.

SmarTrend recommended that its subscribers protect gains by selling shares of Exelon on August 11th, 2016 by issuing a Downtrend alert when the shares were trading at $35.01. Since that call, shares of Exelon have fallen 3.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle exelon

Ticker(s): EXC