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Possible Bullish Inside Day Candle Pattern Detected for Southwestern Energy (NYSE:SWN)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Southwestern Energy (NYSE:SWN) based on the price action in the company's shares. Today's price range of $14.02 and $14.32 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 Southwestern Energy may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Southwestern Energy Company is an independent energy company primarily focused on natural gas and crude oil exploration, development and production (E&P) within the United States. The Company operations also include natural gas gathering, transmission, and marketing, as well as natural gas distribution.

Over the past year, Southwestern Energy has traded in a range of $5.00 to $29.61 and is now at $14.20, 184% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.8% while the 200-day MA has slid 1.6%.

There is potential upside of 26.9% for shares of Southwestern Energy based on a current price of $14.20 and an average consensus analyst price target of $18.02. The stock should find initial support at its 200-day moving average (MA) of $10.87 and further support at its 50-day MA of $9.06.

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

Keywords: bullish inside day candle southwestern energy

Ticker(s): SWN