The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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FirstEnergy Corp. (FE) Technical Analysis

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Summary:
Weekly :Oversold sector
Daily :Stochastic has declined below the signal linePrice is near the Fibonacci 23.6% retracement level
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It was the negative week for the FirstEnergy Corp. (FE). During the week, the FE gave back -0.14 points, or -0.37%, and closed at 37.95 on Friday, March 15, 2024. Weekly volume was -26% below average.

FE 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 FE long-term trend chart]
A long-term downtrend had started on January 17, 2023 at 43.31 and reached 32.18 on October 3, 2023. FE lost 11.13 points, or 25.70%, in 37 weeks. The price is now at the 51.84% retracement level.

Medium-term trend: [See FE medium-term trend chart]
A medium-term uptrend had started on October 3, 2023 at 32.18 and reached 38.82 on December 14, 2023. FE gained -6.64 points, or -20.63%, in 10 weeks. The price is now at the 13.10% retracement level.

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

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 March 1, 2024 at 36.01 and reached 38.57 on March 12, 2024. FE gained -2.56 points, or -7.11%, in 11 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See FE daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 Lane's Stochastic help.

The daily MACD line is above its signal line since March 5, 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) 67.13
Williams' Percentage Range (W%R) 31.20
Lane's Stochastic (%D-Slow) 78.68
Greed/Fear Indicator (GFI) 71.52
Moving Average Converg./Diverg. (MACD) 0.21
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.04
Williams' Percentage Range (W%R) 25.70
Lane's Stochastic (%D-Slow) 58.24
Greed/Fear Indicator (GFI) 61.77
Moving Average Converg./Diverg. (MACD) -0.12
Trading Signals
Description Value Chart
Upper Bollinger Band 38.67
Daily Stochastic Crossing 38.21
Price 37.95
20 Day Moving Average 37.43
Parabolic System 37.30
Weekly Stochastic Crossing 37.28
50 Day Moving Average 37.24
Lower Bollinger Band 36.36
Sector and Industry
Description Name Rank
Sector Utilities 1
Industry Electric Utilities 24
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 36.01
Low Date 03/01/2024
High 38.57
High Date 03/12/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 35.41
Low Date 02/08/2024
High 38.57
High Date 03/12/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 32.18
Low Date 10/03/2023
High 38.82
High Date 12/14/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 43.31
High Date 01/17/2023
Low 32.18
Low Date 10/03/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 52.52
High Date 02/18/2020
Low 22.85
Low Date 07/22/2020
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.