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Possible Bearish Inside Day Candle Pattern Detected for Spark Energy-A (NASDAQ:SPKE)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Spark Energy-A (NASDAQ:SPKE) based on the price action in the company's shares. Yesterday's price range of $10.51 and $10.59 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 Spark Energy-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Spark Energy-A has overhead space with shares priced $10.54, or 29.7% below the average consensus analyst price target of $15.00. The stock should find initial support at its 50-day moving average (MA) of $9.41 and further support at its 200-day MA of $8.72.

Spark Energy, Inc., through its subsidiaries, operates as an independent retail energy services company in the United States. It operates through two segments, Retail Electricity and Retail Natural Gas. The company engages in the retail distribution of electricity and natural gas to residential and commercial customers. As of December 31, 2018, it operated in 94 utility service territories across 19 states and the District of Columbia, and had approximately 908,000 residential customer equivalents. The company was founded in 1999 and is headquartered in Houston, Texas.

In the past 52 weeks, shares of Spark Energy-A have traded between a low of $7.20 and a high of $10.67 and closed yesterday at $10.54, which is 46% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has risen 0.5%.

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

Keywords: bearish am inside day candle spark energy-a

Ticker(s): SPKE