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Archive
- 11/8/2024 -
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Public Serv. Enterprise Inc. (PEG) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Public Serv. Enterprise Inc. (PEG). During the week, the PEG dropped -1.49 points, or -1.71%, and closed at 85.82 on Friday, November 8, 2024. Weekly volume was 18% above average.
PEG 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 PEG long-term trend chart]
A long-term uptrend had started on October 10, 2008 at 22.09 and reached 92.20 on October 3, 2024. PEG gained -70.11 points, or -317.38%, in 833 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (84.12). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a long-term trend.
 Medium-term trend: [See PEG medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 52.51 and reached 92.20 on October 3, 2024. PEG gained -39.69 points, or -75.59%, in 103 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (56.47) 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 medium-term trend.
 Weekly Technical Indicators: [See PEG weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 link to access Lane's Stochastic help.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See PEG short-term trend chart]
A short-term uptrend had started on January 24, 2024 at 56.85 and reached 92.20 on October 3, 2024. PEG gained -35.35 points, or -62.18%, in 253 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (86.67) 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 short-term trend.
Daily Technical Indicators: [See PEG daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since October 9, 2024. The distance between MACD and the signal line is relatively high and getting bigger.
During the last week, the price 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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