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Downtrend Broken Resist.Archive
- 5/10/2024 -
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FirstEnergy Corp. (FE) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the FirstEnergy Corp. (FE). During the week, the FE gained 0.70 points, or 1.78%, and closed at 39.94 on Friday, May 10, 2024. Weekly volume was -32% below average.
FE is a member of Utilities Sector. Utilities is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See FE long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 48.85 and reached 32.18 on October 3, 2023. FE lost 16.67 points, or 34.12%, in 75 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (30.71) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. FE may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See FE medium-term trend chart]
A medium-term uptrend had started on October 3, 2023 at 32.18 and reached 40.09 on May 10, 2024. FE gained -7.91 points, or -24.58%, in 31 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (37.52) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See FE weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since October 27, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See FE short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 36.81 and reached 40.09 on May 10, 2024. FE gained -3.28 points, or -8.91%, in 24 days. Price is near the trend high.
 Daily Technical Indicators: [See FE daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since April 22, 2024. This is an indication that the short-term trend is up.
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