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Possible Bullish Inside Day Candle Pattern Detected for Eversource Energ (NYSE:ES)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Eversource Energ (NYSE:ES) based on the price action in the company's shares. Yesterday's price range of $92.02 and $92.28 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 Eversource Energ may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Eversource Energ (NYSE:ES) is currently priced 31.4% above its average consensus analyst price target of $62.13. The stock should discover initial support at its 50-day moving average (MA) of $85.05 and subsequent support at its 200-day MA of $80.24.

Eversource Energy is a public utility holding company. The Company, through its subsidiaries, provides electric service to customers in Connecticut, New Hampshire, and western Massachusetts. Eversource Energy also distributes natural gas throughout Connecticut.

In the past 52 weeks, shares of Eversource Energ have traded between a low of $68.04 and a high of $93.56 and closed yesterday at $90.60, which is 33% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.7%.

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

Keywords: bullish am inside day candle eversource energ

Ticker(s): ES