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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. Today's price range of $241.99 and $244.97 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 Nextera Energy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Nextera Energy has traded in a range of $174.80 to $283.35 and is now at $242.60, 39% above that low. The 200-day and 50-day moving averages have moved 0.19% higher and 0.4% lower over the past week, respectively.

Nextera Energy (NYSE:NEE) is currently priced 30.4% above its average consensus analyst price target of $168.73. The stock should hit resistance at its 50-day moving average (MA) of $253.06, as well as support at its 200-day MA of $231.99.

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.

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

Keywords: bearish inside day candle nextera energy

Ticker(s): NEE