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Possible Bullish Inside Day Candle Pattern Detected for Northwestern Cor (NYSE:NWE)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Northwestern Cor (NYSE:NWE) based on the price action in the company's shares. Yesterday's price range of $74.44 and $74.98 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 Northwestern Cor may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Northwestern Cor have traded between a low of $56.23 and a high of $76.72 and closed yesterday at $74.59, which is 33% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas in the Upper Midwest and Northwest serving customers in Montana, South Dakota, and Nebraska.

Based on a current price of $74.59, Northwestern Cor is currently 28.3% above its average consensus analyst price target of $53.50. The stock should discover initial support at its 50-day moving average (MA) of $72.46 and subsequent support at its 200-day MA of $69.56.

SmarTrend is tracking the current trend status for Northwestern Cor and will alert subscribers who have NWE in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle northwestern cor

Ticker(s): NWE