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Possible Bearish Inside Day Candle Pattern Detected for Dominion Energy (NYSE:D)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dominion Energy (NYSE:D) based on the price action in the company's shares. Today's price range of $74.32 and $76.12 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 Dominion Energy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Dominion Energy (NYSE:D) defies analysts with a current price ($74.32) 0.4% above its average consensus price target of $74.00. The stock should run into initial resistance at its 200-day moving average (MA) of $80.05 and subsequent resistance at its 50-day MA of $81.57.

Dominion Energy share prices have moved between a 52-week high of $90.14 and a 52-week low of $57.79 and are now trading 29% above that low price at $74.32 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.7%.

Dominion Energy, Inc. produces and transports energy products. The Company offers natural gas and electric energy transmission, gathering, and storage solutions. Dominion Energy serves customers in the United States.

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

Keywords: bearish inside day candle dominion energy

Ticker(s): D