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Shares of Pattern Ener Has Risen Above Previous 52-Week High

By David Diaz

Shares of Pattern Ener (NASDAQ:PEGI) traded at a new 52-week high today of $26.64. So far today approximately 105,000 shares have been exchanged, as compared to an average 30-day volume of 902,000 shares.

Pattern Energy Group, Inc. is an independent power company focused on owning and operating power projects with stable long-term cash flows in attractive markets with potential for continued growth of our business. The Company owns interests in wind power projects located in the United States, Canada, and Chile.

Pattern Ener (NASDAQ:PEGI) defies analysts with a current price ($26.47) 19.2% above its average consensus price target of $21.38. The stock should find initial support at its 50-day moving average (MA) of $23.43 and further support at its 200-day MA of $21.61.

Over the past year, Pattern Ener has traded in a range of $17.23 to $26.64 and is now at $26.47, 54% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has risen 1.0%.

SmarTrend recommended that subscribers consider buying shares of Pattern Ener on June 14th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.82. Since that recommendation, shares of Pattern Ener have risen 15.6%. We continue to monitor PEGI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows pattern ener

Ticker(s): PEGI