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Advanced TA SearchArchive - 4/26/2024 - Sign In to see current Signals. |
Consolidated Edison (ED) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a second consecutive positive week for the Consolidated Edison (ED). During the week, the ED gained 1.16 points, or 1.26%, and closed at 92.93 on Friday, April 26, 2024. ED was trading at average weekly trading volume. ED 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 ED long-term trend chart] A long-term downtrend had started on September 12, 2022 at 102.21 and reached 78.10 on October 13, 2022. ED lost 24.11 points, or 23.59%, in 4 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 81.84 and resistance is at 98.81. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend. Medium-term trend: [See ED medium-term trend chart] A medium-term uptrend had started on October 3, 2023 at 80.46 and reached 94.78 on January 10, 2024. ED gained -14.32 points, or -17.80%, in 14 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (88.19) 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 ED 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. 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 March 28, 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 ED short-term trend chart] A short-term downtrend had started on January 10, 2024 at 94.78 and reached 85.85 on March 1, 2024. ED lost 8.93 points, or 9.42%, in 51 days. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (88.86) 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. ED 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 short-term trend. Daily Technical Indicators: [See ED daily technical indicators chart] Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help. The daily MACD line is above its signal line since April 17, 2024. The distance between MACD and the signal line is relatively high and getting bigger.
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