Possible Bullish Inside Day Candle Pattern Detected for Public Service Enterprise Group (NYSE:PEG)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Public Service Enterprise Group (NYSE:PEG) based on the price action in the company's shares. Today's price range of $40.77 and $41.20 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 Public Service Enterprise Group may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Public Service Enterprise Group (NYSE:PEG) has potential upside of 3.9% based on a current price of $40.92 and analysts' consensus price target of $42.50. Public Service Enterprise Group shares should first meet resistance at the 200-day moving average (MA) of $41.74 and find additional resistance at the 50-day MA of $45.52.
Public Service Enterprise Group Incorporated is a public utility holding company. The Company, through its subsidiaries, generates, transmits, and distributes electricity and produces natural gas in in the Northeastern and Mid Atlantic United States.
In the past 52 weeks, shares of Public Service Enterprise Group have traded between a low of $36.80 and a high of $47.41 and are now at $40.92, which is 11% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.
SmarTrend is monitoring the recent change of momentum in Public Service Enterprise Group. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Public Service Enterprise Group in search of a potential trend change.
Keywords: bullish inside day candle public service enterprise group