• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Pub Serv Enterp (NYSE:PEG)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Pub Serv Enterp (NYSE:PEG) based on the price action in the company's shares. Today's price range of $60.99 and $60.99 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 Pub Serv Enterp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Public Service Enterprise Group Incorporated is a public utility holding company. The Company, through its subsidiaries, generates, transmits, and distributes electricity and produces natural gas in the Northeastern and Mid Atlantic United States.

Based on a current price of $60.99, Pub Serv Enterp is currently 11.2% above its average consensus analyst price target of $54.14. The stock should find initial support at its 50-day moving average (MA) of $59.30 and further support at its 200-day MA of $55.19.

In the past 52 weeks, shares of Pub Serv Enterp have traded between a low of $49.23 and a high of $61.20 and are now at $60.99, which is 24% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.2%.

SmarTrend is tracking the current trend status for Pub Serv Enterp and will alert subscribers who have PEG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle pub serv enterp

Ticker(s): PEG