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Watch for Shares of Spectra Energ (SE) to Approach Support at $14.93

By David Diaz

Spectra Energ (NYSE:SE) has opened bearishly below the pivot of $16.43 today and has reached the first level of support at $15.67. Analysts will be watching for a cross of the next downside pivot targets of $14.93 and $13.43.

Potential upside of 21.9% exists for Spectra Energ, based on a current level of $14.77 and analysts' average consensus price target of $18.00. The stock should find resistance at its 200-day moving average (MA) of $18.28, as well as support at its 50-day MA of $12.27.

In the past 52 weeks, shares of Spectra Energ have traded between a low of $10.06 and a high of $17.19 and are now at $14.77, which is 47% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 2% while the 50-day MA has advanced 2.5%.

SmarTrend recommended that subscribers consider buying shares of Spectra Energ on May 22nd, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.52. Since that recommendation, shares of Spectra Energ have risen 21.3%. We continue to monitor SE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts spectra energ

Ticker(s): SE