I am monitoring a pair trade in XLU. Long ATO Short WEC The overall XLU is looking weak but is heavily skewed. There's pockets of strength potentially setting up in some individual names.
An unconventional bullflag, using a long term price up trend as the flag pole and recent more flat price action as the flag From here price should break out like a normal bullflag should on a daily timeframe (I expect price action to become increasingly steeper)
Big weekly breakout from the downward trend on $WEC. This would be a utility play that corresponds to capital rotation into the sector (see $XAU1!).
We are breaking out of the cloud w the lagging indicator and setting up for a nice run. $95 calls on this set out to September are pretty cheap and will pAy nicely.
Consolidation could be broken upwards with a minimum target of 130.
NYSE:WEC triggered a volatility alert this morning. The level it is at is a former Resistance that has been turned into confirmed Support. It is worth a long trade off this level.
WEC Energy Group's electric and gas utility businesses serve electric and gas customers in its Illinois, Michigan, Minnesota, and Wisconsin service territories. The company also owns a 60% stake in American Transmission Co. WEC's asset mix is approximately 52% electric generation and distribution, 33% gas distribution, 13% electric transmission, and 2% unregulated...
WEC ENTRY ON DBL BOTTOM 84.44 - 83.65 Cost Avg Down (CAD) = 79 1st Target = 382fib 93 2nd Target = 618fib 98 3rd target = 786fib at 102 4th Target = 106 HODL Target = 115+ ______________________________________________________________________________________________________________________ This content is for informational, educational and entertainment purposes...
WEC breakout from ascending triangle. Continue to hold long.
ETR, BMY, MMC, K, SO, WEC