ENTERGY CORP (NYSE:ETR) – A Strong Technical Setup in the Utilities Sector

ENTERGY CORP (NYSE:ETR) has been identified as a potential breakout candidate by our technical stock screener. The stock shows strong technical health and a favorable consolidation pattern, making it worth a closer look for traders focused on technical setups.

Technical Strength

• Technical Rating of 8: ETR scores well above average, indicating a healthy uptrend. Both short-term and long-term trends are positive.
• Strong Relative Performance: The stock has outperformed 83% of all stocks over the past year, with gains well-distributed over time.
• Sector Leadership: Within the Electric Utilities industry, ETR ranks in the top 14%, demonstrating relative strength against peers.
• Liquidity Support: Average daily volume of 2.8 million shares ensures good tradability.

Setup Quality

• Setup Rating of 9: The stock is consolidating in a tight range between $80.11 and $83.70, forming a clear base.
• Support and Resistance: A key support zone lies between $80.46 and $83.28, while resistance starts at $83.62. A breakout above this level could signal an entry opportunity.
• Pocket Pivot Signal: Recent price action shows accumulation, reinforcing the bullish case.

Trade Considerations

A potential breakout above $83.63 could serve as an entry point, with a stop-loss placed below $80.10 (the recent low). This limits downside risk to about 4.2%.

For more details, review the full technical analysis report.

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Disclaimer

This is not investment advice. Always conduct your own analysis before making trading decisions.