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- 7/5/2024 -
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FirstEnergy Corp. (FE) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support lineBroken trend resistance line
Daily :The price has fallen below the Parabolic SARDaily  MACD line has moved above its signal lineThe price is close to the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
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It was a second positive week after 3 consecutive negative weeks for the FirstEnergy Corp. (FE). During the week, the FE climbed 0.31 points, or 0.81%, and closed at 38.58 on Friday, July 5, 2024. It was the best weekly gain since May 31, 2024. Weekly volume was -29% below average.

FE 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 FE long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 48.85 and reached 32.18 on October 3, 2023. FE lost 16.67 points, or 34.12%, in 75 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (30.35) 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 FE medium-term trend chart]
A medium-term uptrend had started on October 3, 2023 at 32.18 and reached 40.65 on May 15, 2024. FE gained -8.47 points, or -26.32%, in 32 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (39.12) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.

Weekly Technical Indicators: [See FE weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since June 21, 2024. 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 FE short-term trend chart]
A short-term downtrend had started on June 24, 2024 at 38.96 and reached 38.03 on June 26, 2024. FE lost 0.93 points, or 2.39%, in 2 days. The price is now at the 59.14% retracement level.

Daily Technical Indicators: [See FE daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 2.7% on Friday. It is 62.40% lower than one year average. It indicates the period of low volatility of the stock price. 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) 47.50
Williams' Percentage Range (W%R) 73.60
Lane's Stochastic (%D-Slow) 37.94
Greed/Fear Indicator (GFI) 37.26
Moving Average Converg./Diverg. (MACD) -0.21
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.77
Williams' Percentage Range (W%R) 47.60
Lane's Stochastic (%D-Slow) 43.37
Greed/Fear Indicator (GFI) 48.69
Moving Average Converg./Diverg. (MACD) 0.46
Trading Signals
Description Value Chart
Monthly Trendline Resistance 41.25
Upper Bollinger Band 39.13
Monthly Trendline Support 39.12
50 Day Moving Average 39.04
Parabolic System 38.96
Weekly Stochastic Crossing 38.92
Price 38.58
20 Day Moving Average 38.52
Daily Stochastic Crossing 38.34
Lower Bollinger Band 38.09
Quarterly Trendline Resistance 32.29
Sector and Industry
Description Name Rank
Sector Utilities 8
Industry Electric Utilities 76
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 38.96
High Date 06/24/2024
Low 38.03
Low Date 06/26/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 40.65
High Date 05/15/2024
Low 38.00
Low Date 06/20/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 41.25
Support 39.12
Low 32.18
Low Date 10/03/2023
High 40.65
High Date 05/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 32.29
Support 30.35
High 48.85
High Date 04/21/2022
Low 32.18
Low Date 10/03/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 52.52
High Date 02/18/2020
Low 22.85
Low Date 07/22/2020
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.