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Possible Bullish Inside Day Candle Pattern Detected for Dte Energy Co (NYSE:DTE)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Dte Energy Co (NYSE:DTE) based on the price action in the company's shares. Yesterday's price range of $99.65 and $101.69 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. Traders and investors interested in shares of Dte Energy Co may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 6.7% exists for Dte Energy Co, based on a current level of $101.26 and analysts' average consensus price target of $108.00. The stock should find resistance at its 200-day moving average (MA) of $121.64, as well as support at its 50-day MA of $99.64.

DTE Energy Company, a diversified energy company, develops and manages energy-related businesses and services nationwide. The Company, through its subsidiaries, generates, purchases, transmits, distributes, and sells electric energy in southeastern Michigan. DTE is also involved in gas pipelines and storage, unconventional gas exploration, development, and production.

In the past 52 weeks, Dte Energy Co share prices have been bracketed by a low of $71.21 and a high of $135.67 and closed yesterday at $101.26, 42% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 2.7%.

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

Keywords: bullish am inside day candle dte energy co

Ticker(s): DTE