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EXELON CORP (NASDAQ:EXC) showing some interesting technicals. Here's why.

By Mill Chart

Last update: May 15, 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 2024-05-15

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.

Taking everything into account, EXC scores 8 out of 10 in our technical rating. 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.

  • The long and short term trends are both positive. This is looking good!
  • In the last month EXC has a been trading in the 35.90 - 38.51 range, which is quite wide. It is currently trading near the high of this range.
  • Prices have been consolidating recently, this may present a good entry opportunity.
  • 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 45% of all stocks.
  • EXC is an average performer in the Electric Utilities industry, it outperforms 47% of 45 stocks in the same industry.
  • 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.

Check the latest full technical report of EXC for a complete technical analysis.

How do we evaluate the setup for NASDAQ:EXC?

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NASDAQ:EXC is 10:

EXC has an excellent technical rating and 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 38.41. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 37.90, 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 breakout setups.

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

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

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.

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EXELON CORP

NASDAQ:EXC (5/29/2024, 7:01:14 PM)

After market: 36.18 0 (0%)

36.18

-0.6 (-1.63%)

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