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Archive
- 11/8/2024 -
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Eversource (ES) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Eversource (ES). During the week, the ES dropped -2.27 points, or -3.57%, and closed at 61.40 on Friday, November 8, 2024. It was the worst weekly loss since May 24, 2024. Weekly volume was 40% above average.
ES 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 ES long-term trend chart]
A long-term downtrend had started on December 14, 2022 at 87.71 and reached 52.03 on November 1, 2023. ES lost 35.68 points, or 40.68%, in 46 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (52.31) is broken. A broken support is considered to be a long-term bullish signal. 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 ES medium-term trend chart]
A medium-term uptrend had started on January 23, 2024 at 52.09 and reached 69.01 on September 5, 2024. ES gained -16.92 points, or -32.48%, in 32 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (61.20) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See ES weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 18, 2024. Use the following link to access a MACD help.
 Short-term trend: [See ES short-term trend chart]
A short-term downtrend had started on October 24, 2024 at 67.23 and reached 59.88 on November 6, 2024. ES lost 7.35 points, or 10.93%, in 13 days. The price is now at the 20.68% retracement level.
 Daily Technical Indicators: [See ES daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. 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 31, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Utilities |
8 |
| Industry |
Multi-Utilities |
66 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
67.23 |
| High Date |
10/24/2024 |
| Low |
59.88 |
| Low Date |
11/06/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
69.01 |
| High Date |
09/05/2024 |
| Low |
59.88 |
| Low Date |
11/06/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Test Support |
| Resistance |
72.10 |
| Support |
61.20 |
| Low |
52.09 |
| Low Date |
01/23/2024 |
| High |
69.01 |
| High Date |
09/05/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
52.03 |
| Low Date |
11/01/2023 |
| High |
69.01 |
| High Date |
09/05/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Descending Triangle |
| Status |
Broken Resistance |
| Resistance |
45.78 |
| Support |
52.31 |
| High |
87.71 |
| High Date |
12/14/2022 |
| Low |
52.03 |
| Low Date |
11/01/2023 |
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