• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Eversource Energ (NYSE:ES)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Eversource Energ (NYSE:ES) based on the price action in the company's shares. Yesterday's price range of $81.97 and $82.89 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. Owners of Eversource Energ may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $82.53, Eversource Energ is currently 24.7% above its average consensus analyst price target of $62.13. Eversource Energ shares should encounter resistance at the 50-day moving average (MA) of $83.34 and support at its 200-day MA of $77.18.

Eversource Energ share prices have moved between a 52-week high of $86.55 and a 52-week low of $62.61 and closed yesterday at 32% above that low price at $82.53 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.2%.

Eversource Energy is a public utility holding company. The Company, through its subsidiaries, provides electric service to customers in Connecticut, New Hampshire, and western Massachusetts. Eversource Energy also distributes natural gas throughout Connecticut.

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

Keywords: bearish am inside day candle eversource energ

Ticker(s): ES