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

By Shiri Gupta

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 $12.50 and $12.83 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 has overhead space with shares priced $12.63, or 29.9% below the average consensus analyst price target of $18.02. Southwestern Energy shares have support at the 200-day moving average (MA) of $10.87 and additional support at the 50-day MA of $9.06.

In the past 52 weeks, shares of Southwestern Energy have traded between a low of $5.00 and a high of $29.61 and are now at $12.63, which is 153% above that low price. The 200-day and 50-day moving averages have moved 1.57% lower and 4.81% higher over the past week, respectively.

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.

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