The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Edison Int'l (EIX) Technical Analysis

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Summary:
Weekly :Oversold sectorWeekly  MACD line has moved above its signal line
Daily :
Move cursor over the icon to see details.

It was the negative week for the Edison Int'l (EIX). During the week, the EIX gave back -0.47 points, or -0.68%, and closed at 68.80 on Friday, March 15, 2024. Weekly volume was -15% below average.

EIX is a member of Utilities Sector. Utilities is the most oversold 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 EIX long-term trend chart]
A long-term downtrend had started on May 1, 2023 at 74.92 and reached 58.82 on October 6, 2023. EIX lost 16.10 points, or 21.49%, in 22 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 51.76 and resistance is at 72.78. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See EIX medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 58.82 and reached 73.25 on January 8, 2024. EIX gained -14.43 points, or -24.53%, in 13 weeks. The price is now at the 30.84% retracement level.

Weekly Technical Indicators: [See EIX weekly technical indicators chart]
Weekly technical indicators are neutral.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See EIX short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 63.15 and reached 70.30 on March 13, 2024. EIX gained -7.15 points, or -11.32%, in 29 days. The price is now at the 20.98% retracement level.

Daily Technical Indicators: [See EIX daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since February 15, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.57
Williams' Percentage Range (W%R) 45.30
Lane's Stochastic (%D-Slow) 74.17
Greed/Fear Indicator (GFI) 64.15
Moving Average Converg./Diverg. (MACD) 0.34
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.99
Williams' Percentage Range (W%R) 44.00
Lane's Stochastic (%D-Slow) 42.50
Greed/Fear Indicator (GFI) 49.11
Moving Average Converg./Diverg. (MACD) 0.00
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 72.78
Upper Bollinger Band 70.18
Daily Stochastic Crossing 69.47
Price 68.80
Parabolic System 68.07
50 Day Moving Average 68.02
20 Day Moving Average 68.00
Weekly Stochastic Crossing 66.62
Lower Bollinger Band 66.08
Sector and Industry
Description Name Rank
Sector Utilities 1
Industry Electric Utilities 24
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 63.15
Low Date 02/13/2024
High 70.30
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 73.25
High Date 01/08/2024
Low 63.15
Low Date 02/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 58.82
Low Date 10/06/2023
High 73.25
High Date 01/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 72.78
Support 51.76
High 74.92
High Date 05/01/2023
Low 58.82
Low Date 10/06/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 43.63
Low Date 03/16/2020
High 74.92
High Date 05/01/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.