Downtrend Broken Resist.Archive
- 9/22/2023 -
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Public Serv. Enterprise Inc. (PEG) Technical Analysis
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|It was the negative week for the Public Serv. Enterprise Inc. (PEG). During the week, the PEG dropped -0.83 points, or -1.35%, and closed at 60.52 on Friday, September 22, 2023. PEG was trading at average weekly trading volume. |
Long-term trend: [See PEG long-term trend chart]
A long-term uptrend had started on October 10, 2008 at 22.09 and reached 75.61 on April 21, 2022. PEG gained -53.52 points, or -242.28%, in 705 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 38.98 and resistance is at 79.90. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
Medium-term trend: [See PEG medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 52.51 and reached 65.46 on July 21, 2023. PEG gained -12.95 points, or -24.66%, in 40 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (60.77) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
Weekly Technical Indicators: [See PEG weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since August 4, 2023. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
Short-term trend: [See PEG short-term trend chart]
A short-term uptrend had started on September 6, 2023 at 58.64 and reached 61.99 on September 15, 2023. PEG gained -3.35 points, or -5.71%, in 9 days. The price is now at the 43.88% retracement level.
Daily Technical Indicators: [See PEG daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since September 7, 2023. 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.
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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.