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Possible Bullish Inside Day Candle Pattern Detected for PG&E (NYSE:PCG)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in PG&E (NYSE:PCG) based on the price action in the company's shares. Today's price range of $63.89 and $64.28 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 PG&E may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

PG&E (NYSE:PCG) is currently priced 10.1% above its average consensus analyst price target of $57.50. PG&E shares have support at the 50-day moving average (MA) of $58.17 and additional support at the 200-day MA of $54.11.

PG&E share prices have moved between a 52-week high of $65.43 and a 52-week low of $47.33 and are now trading 35% above that low price at $63.98 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

PG&E Corporation is a holding company that holds interests in energy based businesses. The Company's holdings include a public utility operating in northern and central California that provides electricity and natural gas distribution, electricity generation, procurement, and transmission, and natural gas procurement, transportation, and storage.

SmarTrend recommended that subscribers consider buying shares of PG&E on June 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $60.04. Since that recommendation, shares of PG&E have risen 6.1%. We continue to monitor PCG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle PG&E

Ticker(s): PCG