$EXCGreen: Entry Point
Blue: Start of Week
Red: End of Week
Thumbs Up: Trade Available for Week
Numbers: Price Targets
*For share traders only. Not meant for options.
EXC trade ideas
EXC LONG POSITIONHi traders,
As we can see from the chart on a weekly basis , there is a formation of a falling wedge starting from middle of 2022 . The price is inside the falling wedge formation and we are expecting the break out . The target is shown on the chart .Enter the long position only if the breakout occurs.
Exelon CorporationExelon Corporation is one of the nation's largest electric utilities. The company has one of the industry's largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic.
Exelon (Nasdaq: EXC) is a Fortune 250 company and the nation’s largest utility company, serving more than 10 million customers through six fully regulated transmission and distribution utilities:
1. Atlantic City Electric (ACE)
2. Baltimore Gas and Electric (BGE)
3. Commonwealth Edison (ComEd)
4.Delmarva Power & Light (DPL)
5. PECO Energy Company (PECO)
6. Potomac Electric Power Company (Pepco).
More than 19,000 Exelon employees dedicate their time and expertise to supporting our communities through reliable, affordable, and efficient energy delivery, workforce development, equity, economic development, and volunteerism
Exelon is a critical company that contributes to the prosperity of all sectors of the American economy through connecting and powering businesses.
EXC: completing the V-shape correction?1. V-Shape Correction:
A standout feature in the recent price movement is the V-shape correction. This formation often indicates a sharp reversal in trend. After a swift drop, the price has recovered with equivalent vigour, suggesting a possible change in sentiment among traders and investors.
2. 200-Day Moving Average:
The stock has had significant interactions with the 200-day moving average, a vital indicator for gauging long-term trends. Currently, the price is below this average, which could act as a resistance level in the immediate term.
3. Fibonacci Retracement Levels:
Currently, the stock is oscillating near the 50.0% retracement level. The area around the 61.8% retracement is marked as "increase exposure around 41.00," indicating that this could be a strategic level to monitor for trade entries or adjustments.
4. Target and Stop Levels:
A bullish target is set at $42.00, presenting a potential upside of +5.4%. On the flip side, a stop is suggested at $39.00, indicating a potential risk of -2.1%. With a win/loss ratio of 2.8:1, the potential reward outweighs the potential risk by nearly threefold, presenting a favourable scenario for those with a bullish outlook.
Conclusion:
Exelon Corporation's chart paints a picture of recovery following a sharp decline. The V-shape correction, combined with interactions at key Fibonacci levels, suggests potential opportunities for traders. However, the 200-day moving average might act as a near-term resistance.
Excelon Corporation longExcelon Corporation (EXC) is traded bellow down slopping resistance, however horizontal support is being respected since beginning of 2023. Price is approaching a support line marked on a chart.
Entry point: Consider entering a long position when the price reach recommended entry price: 39.35.
Stop loss: Place stop loss below support line. Recommended stop loss value : 38.70.
Take Profit 1: 42.70.
Exelon Complex Inverted H&S PatternExelon is seeing gains with the energy sector as oil moves higher this week. Price has formed a complex inverted H&S pattern with price recently coming up off a second right shoulder and is currently testing the neckline. Price is currently trading above all MAs(8,21,34,50,100,200) and the shorter MA's are crossing above the longer MAs indicating a shift to bullish price trend.
The lower PPO indicator is showing the green PPO line rising above the purple signal line which is also rising, and indicates short-term bullish momentum. Both lines trending above the 0 level indicates intermediate to long-term bullish momentum.
The lower TDI indicator shows a rising green RSI line which just recently crossed above the 60 level and indicates a short-term bullish trend. The green RSI line is above the purple signal line and is currently trading outside of the upper Bollinger Band which is a bullish signal and you want to stay long while the RSI line is above the upper Bollinger Band... but caution is warranted because price tends to correct after the RSI falls back below the upper band.
Should price break up above the neckline it would be bullish going forward and start to validate the complex inverted H&S pattern. At current levels we'd be watching for a close and open above the neckline around the $43 area. Taking a measured move from the head to neckline we get $11. This $11 would then be added to breakout level of $43 which gives us a projected price target near $44.
My buy price on this trade is $42.17.
My stop-loss is currently set at $39.55.
Risk/loss on the trade is roughly -4%.
Potential gain is roughly +22%.
Exelon/ComED/ConED: Targeting 1.618 Completion of Bearish AB=CDComED is on the edge of completing the 1.618 extension of this Perfect Bearish AB=CD:
So long as it can hold above the 1.13 everything should be fine. I will be playing this via options by buying some calls in the $40s that are a couple months out and when the 1.618 is hit i will consider flipping my position.
$EXC (Weekly Timeframe)Leader from the Utilities Group (strongest downtrending group today) - The moving averages appear what I like to call "stacked" in the bears favor. A look at the volume shows it extremely low at this time with recent major points of inflection to favor the short side of volume.
Long On EXCThe upper timeframe Trend is bullish
I should have bought the stock 4th of March as it has broke out the previous high, but i think now I have a better price and a better stop loss.
The pre-market price is at 44.07 so i will put a stop order at 44.08
My stop loss is at 42.2 under the 50 SMA, my take profit will be at 51 a weekly major resistance
