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Downtrend Broken Resist.Archive
- 7/19/2024 -
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Exelon Corp. (EXC) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a second positive week after 5 consecutive negative weeks for the Exelon Corp. (EXC). During the week, the EXC gained 0.89 points, or 2.53%, and closed at 36.13 on Friday, July 19, 2024. EXC was trading at average weekly trading volume.
EXC is a member of Utilities Sector. Utilities is the 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 EXC long-term trend chart]
A long-term downtrend had started on January 9, 2023 at 44.37 and reached 33.35 on February 9, 2024. EXC lost 11.02 points, or 24.84%, in 56 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Medium-term trend: [See EXC medium-term trend chart]
A medium-term downtrend had started on May 15, 2024 at 38.99 and reached 34.01 on July 8, 2024. EXC lost 4.98 points, or 12.77%, in 7 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (33.28) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. EXC may retest the broken resistance line. It is considered to be a support 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See EXC weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since June 14, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See EXC short-term trend chart]
A short-term uptrend had started on July 8, 2024 at 34.01 and reached 36.92 on July 18, 2024. EXC gained -2.91 points, or -8.56%, in 10 days. The price is now at the 27.15% retracement level.
 Daily Technical Indicators: [See EXC daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.
The daily MACD line is above its signal line since July 2, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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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