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Archive
- 11/8/2024 -
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Wisconsin Energy Corp. (WEC) Technical Analysis
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| Summary:
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| | It was a first positive week for the Wisconsin Energy Corp. (WEC). During the week, the WEC gained 2.02 points, or 2.11%, and closed at 97.59 on Friday, November 8, 2024. Weekly volume was 21% above average.
WEC 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 WEC long-term trend chart]
A long-term uptrend had started on February 13, 2024 at 75.13 and reached 100.31 on October 21, 2024. WEC gained -25.18 points, or -33.52%, in 35 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 79.74 and resistance is at 101.65. 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 long-term trend.
Medium-term trend: [See WEC medium-term trend chart]
A medium-term uptrend had started on July 10, 2024 at 77.47 and reached 100.31 on October 21, 2024. WEC gained -22.84 points, or -29.48%, in 14 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 94.23 and resistance is at 102.07. 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 WEC weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought 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 link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since July 19, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See WEC short-term trend chart]
A short-term downtrend had started on October 21, 2024 at 100.31 and reached 94.15 on November 4, 2024. WEC lost 6.16 points, or 6.14%, in 14 days. The chart has formed a Broadening Descending Wedge chart pattern.
 Daily Technical Indicators: [See WEC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since October 25, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.
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