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Possible Bearish Inside Day Candle Pattern Detected for Nrg Energy (NYSE:NRG)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Nrg Energy (NYSE:NRG) based on the price action in the company's shares. Today's price range of $34.32 and $34.79 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 Nrg Energy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

NRG Energy, Inc. owns and operates a diverse portfolio of power-generating facilities primarily in the United States. The Company offers energy production and cogeneration facilities, thermal energy production, and energy resource recovery facilities.

Nrg Energy has overhead space with shares priced $34.42, or 4.1% below the average consensus analyst price target of $35.88. Nrg Energy shares should encounter resistance at the 200-day moving average (MA) of $36.16 and support at the 50-day MA of $30.68.

Nrg Energy share prices have moved between a 52-week high of $41.78 and a 52-week low of $19.54 and are now trading 76% above that low price at $34.42 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.2%.

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

Keywords: bearish inside day candle NRG Energy

Ticker(s): NRG