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Possible Bearish Inside Day Candle Pattern Detected for Antero Resources (NYSE:AR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Antero Resources (NYSE:AR) based on the price action in the company's shares. Today's price range of $3.96 and $3.96 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. Owners of Antero Resources may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Antero Resources has overhead space with shares priced $3.96, or 83.7% below the average consensus analyst price target of $24.26. The stock should run into initial resistance at its 50-day moving average (MA) of $4.10 and subsequent resistance at its 200-day MA of $7.58.

Antero Resources Corporation explores, develops, and produces oil and natural gas. The Company focuses on the acquisition, development, and production of unconventional oil and liquids-rich natural gas properties. Antero Resources serves customers in the United States.

In the past 52 weeks, Antero Resources share prices have been bracketed by a low of $2.80 and a high of $20.21 and are now at $3.96, 41% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 3.2% while the 50-day MA has declined 3.9%.

SmarTrend is monitoring the recent change of momentum in Antero Resources. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Antero Resources in search of a potential trend change.

Keywords: bearish inside day candle antero resources

Ticker(s): AR