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|It was a third consecutive positive week for the Consolidated Edison (ED). During the week, the ED gained 2.11 points, or 2.63%, and closed at 82.46 on Friday, December 07, 2018. Weekly volume was 40% above average. |
ED is a member of Utilities Sector. Utilities is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See ED long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 32.56 and reached 89.70 on December 11, 2017. ED gained -57.14 points, or -175.49%, in 457 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 73.22 and resistance is at 91.54. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
Medium-term trend: [See ED medium-term trend chart]
A medium-term downtrend had started on December 11, 2017 at 89.70 and reached 71.12 on June 12, 2018. ED lost 18.58 points, or 20.71%, in 26 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (74.57) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ED may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
Weekly Technical Indicators: [See ED weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 16, 2018. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
Short-term trend: [See ED short-term trend chart]
A short-term uptrend had started on November 2, 2018 at 73.93 and reached 83.00 on December 4, 2018. ED gained -9.07 points, or -12.27%, in 32 days. The chart has formed a Falling Pennant chart pattern. The uptrend resistance line (78.71) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.
Daily Technical Indicators: [See ED daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range or strongly overbought daily Lane's Stochastic. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is above its signal line since November 26, 2018. This is an indication that the short-term trend is up.
The price touches the upper Bollinger Band. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.