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Uptrend Broken SupportArchive - 3/15/2024 - Sign In to see current Signals. |
Public Serv. Enterprise Inc. (PEG) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Public Serv. Enterprise Inc. (PEG). During the week, the PEG gave back -0.48 points, or -0.75%, and closed at 63.78 on Friday, March 15, 2024. It was the worst weekly loss since January 26, 2024. PEG was trading at average weekly trading volume. PEG 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 PEG long-term trend chart] A long-term downtrend had started on April 21, 2022 at 75.61 and reached 52.51 on October 13, 2022. PEG lost 23.10 points, or 30.55%, in 25 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (54.27) is broken. A broken support is considered to be a long-term bullish signal. 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 PEG medium-term trend chart] A medium-term uptrend had started on January 24, 2024 at 56.85 and reached 65.57 on March 8, 2024. PEG gained -8.72 points, or -15.34%, in 6 weeks. The price is now at the 20.53% retracement level. Weekly Technical Indicators: [See PEG weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is above its signal line since March 1, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See PEG short-term trend chart] A short-term downtrend had started on March 8, 2024 at 65.57 and reached 63.40 on March 14, 2024. PEG lost 2.17 points, or 3.31%, in 6 days. The price is now at the 17.51% retracement level. Daily Technical Indicators: [See PEG daily technical indicators chart] Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. 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 January 31, 2024. The distance between MACD and the signal line is low and getting smaller. During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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