|
|
Uptrend SupportArchive
- 4/26/2024 -
Sign In to see current Signals. |
FirstEnergy Corp. (FE) Technical Analysis
|
 |
| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was the negative week for the FirstEnergy Corp. (FE). During the week, the FE gave back -0.04 points, or -0.10%, and closed at 38.13 on Friday, April 26, 2024. Weekly volume was -11% below average.
FE 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 FE long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 48.85 and reached 32.18 on October 3, 2023. FE lost 16.67 points, or 34.12%, in 75 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (30.80) 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. FE 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 long-term trend.
 Medium-term trend: [See FE medium-term trend chart]
A medium-term uptrend had started on February 8, 2024 at 35.41 and reached 38.73 on April 2, 2024. FE gained -3.32 points, or -9.38%, in 7 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 37.16 and resistance is at 39.30. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See FE weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 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 downtrend had started on April 2, 2024 at 38.73 and reached 36.81 on April 16, 2024. FE lost 1.92 points, or 4.96%, in 14 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 35.74 and resistance is at 38.44. 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 short-term trend.
 Daily Technical Indicators: [See FE daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
| |
|
|