• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Nextera Energy (NYSE:NEE)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Nextera Energy (NYSE:NEE) based on the price action in the company's shares. Yesterday's price range of $250.34 and $251.22 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 Nextera Energy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

NextEra Energy, Inc. provides sustainable energy generation and distribution services. The Company generates electricity through wind, solar, and natural gas. Through its subsidiaries, NextEra Energy also operates multiple commercial nuclear power units.

Nextera Energy share prices have moved between a 52-week high of $250.10 and a 52-week low of $169.35 and closed yesterday at 49% above that low price at $252.27 per share. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.5%.

Nextera Energy (NYSE:NEE) is currently priced 33.1% above its average consensus analyst price target of $168.73. Nextera Energy shares have support at the 50-day moving average (MA) of $236.32 and additional support at the 200-day MA of $217.50.

SmarTrend recommended that subscribers consider buying shares of Nextera Energy on November 18th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $231.42. Since that recommendation, shares of Nextera Energy have risen 8.7%. We continue to monitor NEE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle nextera energy

Ticker(s): NEE