CEG trade ideas
indicators headed one way up 220This is a chart that has been following the rules of support and resistance. With the current state of affairs, there is room to run on the stochastic, and the RSI and MACD still have room to go. The SMAA 100 at 189, getting closer to 200, may retrace to that level once it is time for a reversal.
The Bullish Case for CEGThere's been and could still be good buying opportunities for CEG here as we see an uptrend occur. In addition, FV gaps are being respected as seen with the purple rectangle (Wicks have entered into the triangle but price then bounce up & out). I think we could continue to see a steady increase in CEG stock price
CEG Entry, Volume, Target, StopEntry: with price at or slightly above 110.26
Volume: with volume greater than 1.5M
Target: 119.60 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up)
Stop: Depending on your risk tolerance; Based on an entry of 110.26 & target of 119.60, a stop at 107.15 gets you 3/1 Reward to Risk Ratio.
This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
$CEG Constellation Energy Corporation ( NASDAQ:CEG ) experienced a slight decline of -0.299% on the last trading day, Friday, 21st Jul 2023, with the stock price dropping from $96.89 to $96.60. Throughout the day, the stock fluctuated 1.79%, reaching a low of $96.42 and a high of $98.15. Over the past two weeks, the stock has shown a 5.77% gain, indicating periods of both upward and downward movement. However, it's worth noting that on the last day, trading volume increased by 1 million shares, despite the falling prices, which could be an early warning sign, leading to a slightly increased risk over the next few days. The total number of shares bought and sold amounted to approximately $291.72 million.
Currently, the stock is positioned in the middle of a narrow and strong rising trend in the short term, signaling the possibility of further upward movement. Based on the current short-term trend, the stock is expected to rise by 28.23% in the next 3 months, with a 90% probability of holding a price between $121.66 and $126.07 at the end of this 3-month period.
Signals and Forecast for CEG:
The Constellation Energy Corporation stock shows buy signals from both short and long-term Moving Averages, indicating a positive forecast for the stock. Additionally, there is a general buy signal based on the relationship between the short-term and long-term averages, with the short-term average above the long-term average. On price corrections downward, there may be some support levels at $95.72 and $92.40. However, a breakdown below any of these levels could issue sell signals. Furthermore, the 3-month Moving Average Convergence Divergence (MACD) also indicates a buy signal. While some negative signals were also issued, they may influence the near short-term development of the stock. A sell signal was previously issued from a pivot top point on Thursday, July 20, 2023, and so far, the stock has experienced a decline of -0.299%. This suggests the possibility of further decline until a new bottom pivot is established. The fact that volume rose on falling prices yesterday could be an early warning, indicating that the stock should be monitored more closely.
CorrectingAfter the outbreak at the beginning of May we've seen a straight upward move without any major correction. Now that the overall mood turns to the downside Costellation may want to follow this mood. A healthy correction may be needed to continue a possible rise. But as long to many people are sitting on profits there is always a danger of a correction to take profit to avoid losing parts of it.
CEG , LONGThis is from my TT's list , these stocks must meet the following 4 things :
Gaps from their highs to their lows
Exceptional RS vs SPY and QQQ
Tight moves no "loosey goosey stuff"
Above last GLB
TT's stands for "Top Trender's" , who doesn't like TT's ;)
Did not give us the best risk vs reward setup ( unless one was quicker at entering of-course) , stop is farther than I would like vs entry , but I anticipated and planned it in advance as one of my favorite of the bunch , it was this , ENPH or TH . I decided on this one . I only take entries in the final 30 min of the day so sometimes a stock moves a little more than I like in the day but that is one of the cons of my strategy , on the pro side , this method does a great job of filtering out false signals
Trade management -
Standard procedure ...
Constellation Energy $CEG leading the energy transition?Constellation Energy provides power, natural gas, renewable energy, and energy management products and services. They are the largest producer of carbon-free and low-emissions energy in the US.
NASDAQ:CEG is in a clear uptrend with great relative strength against its benchmarks. Just look at AMEX:XLE and NASDAQ:QCLN .
NASDAQ:CEG is clearly leading.
I see an actionable first buy at yesterday's high as that would cancel the outside reversal. It would be very bullish.
A second buy point is at $90.20, which would be an ATH.
Lets see if the MAs can hold the price.
10/5/22 CEGConstellation Energy Corporation ( NASDAQ:CEG )
Sector: Utilities (Electric Utilities)
Market Capitalization: $29.200B
Current Price: $88.17
Breakout price: $89.45
Buy Zone (Top/Bottom Range): $86.80-$82.45
Price Target: $93.20-$95.00
Estimated Duration to Target: 21-23d
Contract of Interest: $CEG 11/18/22 95c
Trade price as of publish date: $3.00/contract