EVERSOURCE ENERGY (NYSE:ES) - A Technical Breakout Candidate Worth Watching

EVERSOURCE ENERGY (NYSE:ES) has appeared in our Technical Breakout screen, showing a combination of strong technical health and a high-quality setup pattern. The stock currently presents an opportunity for traders looking for well-defined entry and exit points. Below, we examine the key factors that make ES stand out.

Technical Strength

• Technical Rating of 7: ES scores solidly in terms of technical health, indicating an uptrend in both short-term and long-term timeframes.
• Positive Trends: The stock is trading above key moving averages (50-day and 100-day), reinforcing its bullish momentum.
• Relative Strength: While ES outperforms 53% of all stocks in the market, it remains competitive within the Electric Utilities sector, beating 54% of its peers.
• Volume & Liquidity: With an average daily volume of 2.8 million shares, ES offers sufficient liquidity for traders.

Setup Quality

• Setup Rating of 9: The stock is consolidating within a defined range ($61.88 - $66.24), reducing volatility and improving the likelihood of a breakout.
• Support & Resistance: Key support lies between $62.39 and $64.24, while resistance is found near $65.55. A breakout above this level could signal further upside.
• Pocket Pivot Signal: Recent accumulation activity suggests institutional interest, adding confidence to the setup.
• Tight Stop-Loss Zone: A stop-loss below $62.38 limits downside risk to just 4.85% from the suggested entry at $65.56.

For a deeper technical breakdown, review the full technical analysis report.

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Disclaimer

This is not investment advice. Always conduct your own research and consider risk management before making trading decisions.