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Possible Bearish Inside Day Candle Pattern Detected for Gulfport Energy (NASDAQ:GPOR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Gulfport Energy (NASDAQ:GPOR) based on the price action in the company's shares. Yesterday's price range of $0.56 and $1.11 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 Gulfport Energy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Gulfport Energy Corporation owns and operates oil and gas properties in the Louisiana Gulf Coast area of the United States.

Gulfport Energy (NASDAQ:GPOR) has potential upside of 1,428.3% based on a current price of $0.95 and analysts' consensus price target of $14.52. Gulfport Energy shares should first meet resistance at the 50-day moving average (MA) of $1.45 and find additional resistance at the 200-day MA of $2.93.

Over the past year, Gulfport Energy has traded in a range of $0.35 to $8.24 and closed yesterday at $0.95, 171% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 6.1% while the 200-day MA has slid 2.5%.

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

Keywords: bearish am inside day candle gulfport energy

Ticker(s): GPOR