The Greedy Trader Weekly Analysis
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- 12/7/2018
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Consolidated Edison
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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtBroken trend resistance line
Daily :Broken uptrend resistance line - uptrend exhaustionRelative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overboughtThe price touches the upper Bollinger Band
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 82.67
Overbought
Williams' Percentage Range (W%R) 18.70
Overbought
Lane's Stochastic (%D-Slow) 90.36
Strong Overbought
Greed/Fear Indicator (GFI) 84.79
Overbought
Moving Average Converg./Diverg. (MACD) 0.71
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.72
Williams' Percentage Range (W%R) 13.80
Overbought
Lane's Stochastic (%D-Slow) 64.48
Greed/Fear Indicator (GFI) 67.75
Moving Average Converg./Diverg. (MACD) -0.19
Trading Signals
Description Value Chart
Yearly Trendline Resistance 91.54
Upper Bollinger Band 82.66
Price 82.46
Daily Stochastic Crossing 82.36
Weekly Stochastic Crossing 80.54
Parabolic System 79.75
20 Day Moving Average 79.08
Quarterly Trendline Resistance 78.73
Weekly Trendline Support 78.71
50 Day Moving Average 77.59
Lower Bollinger Band 75.98
Quarterly Trendline Support 74.57
Weekly Trendline Resistance 74.32
Yearly Trendline Support 73.22
Sector and Industry
Description Name Rank
Sector Utilities 10
Industry Diversified Utilities 149
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 76.30
Low Date 11/16/2018
High 83.00
High Date 12/04/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 74.32
Support 78.71
Low 73.93
Low Date 11/02/2018
High 83.00
High Date 12/04/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 71.12
Low Date 06/12/2018
High 83.00
High Date 12/04/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 78.73
Support 74.57
High 89.70
High Date 12/11/2017
Low 71.12
Low Date 06/12/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 91.54
Support 73.22
Low 32.56
Low Date 03/09/2009
High 89.70
High Date 12/11/2017
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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