D - Dominion Energy has solid uptrend to play AI energy boom
Reverse H&S formation might pave way to $70s. Stays comfortably above 200dma with strong uptrend.
Amazon recently signed agreement with Dominion Energy to explore energy opportunities with Modular Nuclear Reactors.
Nuclear names getting boost recently with expected energy demand from AI boom.
0IC9 trade ideas
2024 Q1 Long: Dominion Energy (D)Holding support. Solid dividend as rates are being cut. People will lock these % in ( given the belief rates will be cut as quickly as the market expects-- with that in mind be careful with dividend names. They're highly dependent on rates- why own 5% dividend yield when 6 mo bonds were yielding the same? )
Dominion energy, maybe it's nothing maybe it's somethingWatch for trend breakout.
Dominion Energy, Inc., commonly referred to as Dominion, is an American power and energy company headquartered in Richmond, Virginia that supplies electricity in parts of Virginia, North Carolina, and South Carolina and supplies natural gas to parts of Utah, Idaho and Wyoming, West Virginia, Ohio, Pennsylvania, North Carolina, South Carolina, and Georgia. Dominion also has generation facilities in Indiana, Illinois, Connecticut, and Rhode Island.
Dominion Energy (D) V2.0 bounce ??A completed Butterfly harmonic pattern ( and a broad market rally) caused a 12% bounce in Dominion Energy (D) from mid December 2022.
Additionally an earnings beat helped.
Another opportunity may be at hand as momentum has reverted to its previous Dec level and we have an extension of the original pattern
I have provided suggested targets if the price convincingly breaks out of the rose shaded trading band (~$64)
Just a possible opportunity if there is resumption of a strong upward broad market.
as always DYODD and pay attention, particularly to energy prices..
S.
AnalysisAs you see on the chart we will have a continuity of an uptrend after the breakout with force the resistance and the vwap by a big green candle with a large volume. In other hand, we will have a downtrend if we have the breakout with force the support line by a big red candle with a large volume.Thanks.
Dominion Energy, Inc. - Testing SupportD is sitting on key support.
Should the TEAL structure fail, D could shed nearly 20% of its value in the coming weeks.
Today's energy sector rally which based off of OPEC voicing the option of supply cuts gave the sector a boost today.
We'll be watching for a reversal and/or an opportunity to short if presented.