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Possible Bullish Inside Day Candle Pattern Detected for Southwestrn Engy (NYSE:SWN)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Southwestrn Engy (NYSE:SWN) based on the price action in the company's shares. Yesterday's price range of $1.54 and $1.59 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 Southwestrn Engy may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Southwestrn Engy have traded between a low of $1.51 and a high of $4.90 and closed yesterday at $1.56, which is 3% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has declined 1%.

Southwestern Energy Company is an independent energy company. The Company primarily focused on natural gas and crude oil exploration, development and production (E&P). Southwestern Energy serves customers in the State of Texas.

There is potential upside of 287.5% for shares of Southwestrn Engy based on a current price of $1.56 and an average consensus analyst price target of $6.05. The stock should run into initial resistance at its 50-day moving average (MA) of $1.98 and subsequent resistance at its 200-day MA of $2.44.

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

Keywords: bullish am inside day candle southwestrn engy

Ticker(s): SWN