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Exploring EXELON CORP's Technical Signals and Breakout Potential.

By Mill Chart

Last update: May 10, 2024

Our stock screener has identified EXELON CORP (NASDAQ:EXC) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NASDAQ:EXC.

EXC Daily chart on 2024-05-10

Zooming in on the technicals.

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Overall EXC gets a technical rating of 7 out of 10. EXC has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.

  • The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
  • In the last month EXC has a been trading in the 35.75 - 38.45 range, which is quite wide. It is currently trading near the high of this range.
  • When compared to the yearly performance of all other stocks, EXC outperforms 43% of them, which is more or less in line with the market.
  • EXC is part of the Electric Utilities industry. There are 45 other stocks in this industry, EXC did better than 45% of them.
  • EXC is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so EXC is lagging the market.

Our latest full technical report of EXC contains the most current technical analsysis.

Looking at the Setup

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NASDAQ:EXC has a 10 as its setup rating:

Besides having an excellent technical rating, EXC also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 38.34. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 37.74, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for EXC in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like NASDAQ:EXC

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.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.