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1NEE trade ideas

NextEra Energy Left its sparks behind. NEEA beginning of a third leg in this flat formation. Early days, as nil confirmation yet, having said that the wave morphology is already highly suggestive of the early throes of an impulse. Volatility flipped not too long ago on the daily as well. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
NYSE:NEEShort
by Rykin_Capital
NEE - NextEra of ⬇️ Price ActionREMAINING REASONS TO BE BULLISH Green energy & ESG projects are still top of mind for many investors We still remain above the 100 week moving average and in the green channel “Only” trading 26x above earnings Growing earnings at 8% a year Paying a modest dividend of ~2% Not much else I’m afraid… WHY I’M BEARISH The weekly RSI has just entered the bull zone We’re perilously close to crossing below the 100 week moving average and on a declining trajectory Very much overdue a correction A normal P/E ratio would be in 15-18 ratio. This would price it back in the $30s. Much better value stocks in the energy sector, paying much higher dividends. NEE have traditionally paid as high as 4% yield going back to the early 2000’s, the decline to 1.6% in December 2021 may yet be “beaten” with an even lower yield this time out. This will likely turn away many savvy investors looking for underpriced value. WHAT I’M DOING Definitely NOT buying this stock, not even 30% off all-time highs Will be wanting for the trigger to confirm in order to enter short in the coming days First target would be $35, with a terminal target of $18 to come back and retest an important level. This would also coincide with the 0.618 fib off the entire 40 year move.
NYSE:NEEShort
by DigiDavid
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