• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for NiSource (NYSE:NI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in NiSource (NYSE:NI) based on the price action in the company's shares. Today's price range of $23.07 and $23.17 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 NiSource may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

NiSource Inc. is an energy holding company. The Company's subsidiaries provide natural gas, electricity and other products and services to customers located within a corridor that runs from the Gulf Coast through the Midwest to New England.

Over the past year, NiSource has traded in a range of $16.04 to $26.94 and is now at $23.16, 44% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.6%.

NiSource has overhead space with shares priced $23.16, or 5.3% below the average consensus analyst price target of $24.46. NiSource shares have support at the 50-day moving average (MA) of $22.90 and additional support at the 200-day MA of $19.87.

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

Keywords: bullish inside day candle NiSource

Ticker(s): NI