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Possible Bullish Inside Day Candle Pattern Detected for Pub Serv Enterp (NYSE:PEG)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Pub Serv Enterp (NYSE:PEG) based on the price action in the company's shares. Yesterday's price range of $61.24 and $61.91 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 Pub Serv Enterp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Pub Serv Enterp (NYSE:PEG) is currently priced 12.1% above its average consensus analyst price target of $54.14. Pub Serv Enterp shares have support at the 50-day moving average (MA) of $59.95 and additional support at the 200-day MA of $58.36.

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power.

Pub Serv Enterp share prices have moved between a 52-week high of $62.60 and a 52-week low of $49.23 and closed yesterday at 25% above that low price at $61.57 per share. The 200-day and 50-day moving averages have moved 0.23% higher and 0.27% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Pub Serv Enterp and will alert subscribers who have PEG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle pub serv enterp

Ticker(s): PEG