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S&P 500 Overbought StocksArchive
- 12/20/2024 -
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Consolidated Edison (ED) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Consolidated Edison (ED). During the week, the ED dropped -2.66 points, or -2.87%, and closed at 90.03 on Friday, December 20, 2024. Weekly volume was 66% above average.
 Long-term trend: [See ED long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 32.56 and reached 107.75 on October 24, 2024. ED gained -75.19 points, or -230.93%, in 815 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 87.84 and resistance is at 110.59. 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 uptrend had started on October 3, 2023 at 80.46 and reached 107.75 on October 24, 2024. ED gained -27.29 points, or -33.92%, in 55 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (96.55) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ED may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.
 Weekly Technical Indicators: [See ED weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since November 1, 2024. The distance between MACD and the signal line is near its high and getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See ED short-term trend chart]
A short-term downtrend had started on October 24, 2024 at 107.75 and reached 88.37 on December 19, 2024. ED lost 19.38 points, or 17.99%, in 56 days. The chart has formed a Falling Channel chart pattern. The trend support level is at 88.30 and resistance is at 98.52. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a short-term trend.
 Daily Technical Indicators: [See ED daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. Use the following link to access Relative Strength Index help.
The daily MACD line is below its signal line since December 4, 2024. This is an indication that the short-term trend is down.
The distance between the Bollinger Bands (18.22%) is close to one year high (16.06%). It is 151.71% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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