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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 $33.30 and $33.65 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, shares of Exelon have traded between a low of $25.09 and a high of $37.70 and are now at $33.33, which is 33% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

Exelon (NYSE:EXC) has potential upside of 2.6% based on a current price of $33.33 and analysts' consensus price target of $34.20. Exelon shares should encounter resistance at the 50-day moving average (MA) of $34.43 and support at its 200-day MA of $30.81.

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

Keywords: bullish inside day candle exelon

Ticker(s): EXC