NASDAQ:EXC may be ready to breakout.

A possible breakout setup was detected on Exelon Corp (NASDAQ:EXC) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NASDAQ:EXC.

What is the technical picture of NASDAQ:EXC telling us.

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 7 out of 10 to EXC. Although EXC is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• Both the short term and long term trends are positive. This is a very positive sign.
• EXC is part of the Electric Utilities industry. There are 46 other stocks in this industry. EXC outperforms 73% of them.
• EXC is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• When comparing the performance of all stocks over the past year, EXC turns out to be only a medium performer in the overall market: it outperformed 43% of all stocks.
• In the last month EXC has a been trading in a tight range between 43.82 and 46.42.

How do we evaluate the setup for NASDAQ:EXC?

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NASDAQ:EXC this score is currently 9:

Besides having an excellent technical rating, EXC also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 46.66. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 45.45, a stop order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Of course, there are many ways to trade or not trade NASDAQ:EXC and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Our Breakout analyzer lists more breakout setups and is updated daily.