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Electric Utilities Industry Stocks Technical Analysis - DUKArchive
- 11/8/2024 -
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Duke Energy (DUK) Technical Analysis
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| Summary:
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| | It was a first positive week for the Duke Energy (DUK). During the week, the DUK climbed 0.50 points, or 0.44%, and closed at 113.20 on Friday, November 8, 2024. Weekly volume was 29% above average.
DUK is a member of Utilities Sector. Utilities is the second 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 DUK long-term trend chart]
A long-term uptrend had started on October 6, 2023 at 83.07 and reached 121.25 on October 21, 2024. DUK gained -38.18 points, or -45.96%, in 54 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (106.51) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 long-term trend.
 Medium-term trend: [See DUK medium-term trend chart]
A medium-term uptrend had started on March 1, 2024 at 90.09 and reached 121.25 on October 21, 2024. DUK gained -31.16 points, or -34.59%, in 33 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 109.05 and resistance is at 125.69. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See DUK weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 25, 2024. Use the following link to access a MACD help.
 Short-term trend: [See DUK short-term trend chart]
A short-term uptrend had started on July 2, 2024 at 99.21 and reached 121.25 on October 21, 2024. DUK gained -22.04 points, or -22.22%, in 111 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 111.33 and resistance is at 122.96. 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 short-term trend.
 Daily Technical Indicators: [See DUK daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since October 28, 2024. The distance between MACD and the signal line is relatively high, but getting smaller.
 Candlestick pattern: [See DUK candlestick chart pattern]
On Friday the chart has formed a Bearish Downside Tasuki Gap Candlestick pattern. This is a rare continuation formation that appears in a strongly downward moving market. The reliability of the Bearish Downside Tasuki Gap pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Downside Tasuki Gap Candlestick pattern during the last week.
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