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Downtrend ResistanceArchive
- 4/26/2024 -
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Public Serv. Enterprise Inc. (PEG) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the Public Serv. Enterprise Inc. (PEG). During the week, the PEG gained 2.08 points, or 3.16%, and closed at 67.82 on Friday, April 26, 2024. It was the best weekly gain since November 17, 2023. PEG was trading at average weekly trading volume.
PEG 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 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 (54.41) 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. PEG 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 PEG medium-term trend chart]
A medium-term uptrend had started on January 24, 2024 at 56.85 and reached 68.39 on April 26, 2024. PEG gained -11.54 points, or -20.30%, in 13 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See PEG weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since March 1, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 April 16, 2024 at 64.03 and reached 68.39 on April 26, 2024. PEG gained -4.36 points, or -6.81%, in 10 days. The price is now at the 13.07% retracement level.
 Daily Technical Indicators: [See PEG daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
The price touches the upper Bollinger Band. 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.
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