• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Portland General (NYSE:POR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Portland General (NYSE:POR) based on the price action in the company's shares. Yesterday's price range of $46.47 and $49.07 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 Portland General may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Portland General (NYSE:POR) defies analysts with a current price ($47.47) 13.8% above its average consensus price target of $40.94. The stock should find initial resistance at its 200-day moving average (MA) of $56.13 and further resistance at its 50-day MA of $57.81.

In the past 52 weeks, shares of Portland General have traded between a low of $41.27 and a high of $63.08 and closed yesterday at $47.47, which is 15% above that low price. The 200-day and 50-day moving averages have moved 0.22% lower and 1.14% lower over the past week, respectively.

Portland General Electric Company is an electric utility involved in the generation, purchase, transmission, distribution, and sale of electricity in Oregon. The Company also participates in the wholesale market by purchasing and selling electricity and natural gas to utilities and energy marketers.

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

Keywords: bearish am inside day candle portland general

Ticker(s): POR