#Utilities Are Trying To Make a Stand at the Yellow Line $RYUThe custom support resistance indicator lines show decent places to enter or exit.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes above the Blue line, we think about going Long.
If your instrument closes below the Red line, we think about Shorting.
For Stocks, I prefer to use the Yellow line as my Bearish Trend setter.
Utilities
LPE bounce off historical supportLPE a novel Queensland based discount energy provider with consistent revenue growth has proven to have strong support historically at 2.3c. The stock has over the past few sessions been strongly absorbed in this range and now appears to be nearing a break point. The growing revenues and approach to the spec dream of being cash flow positive signal to me that this should be to the upside. Looking for an initial target of 2.8c with scope to improve should the sector gain interest. Often the ASX XEC market softens around October and investors turn to utilities as a safe haven to prevent losses in the highly speculative mining sector. This could add significant drive to the price action as the stock remains tightly traded.
EXC Long ideaIm looking to buy EXC at open price with a target of $39.45. Looks like a break out of a bull flag and continuing AB=CD pattern.
$xlu continuation patterns across the board!-higher time frame showing healthy pullback in defined uptrend finding support at 53.3x area
-mid time frame shows range bound action after a quick downtrend/ signs of accumulation are seen in range bound equilibrium
-momentum is strengthening upward along with volume pressure
-spring candle/pinbar found on mid time frame finding quick support at 53.3x area shows buyers conviction
multiple retests of resistance area 53.6x area shows weakness and high probability of breaking out
lower time frame supports previously mentioned idea with price action making higher lows and higher highs into resistance showing buyers conviction with rising rsi
DOW utilies: one of the cleanest uptrend. Keeping an eye on 750 for signs of exhaustion. Will revisit the chart soon
ed waiting for pullback utilities sector looking strong
daily timeframe shows positive trend strength and rising MA's
intermediate shows rising MA's with Short term MA slightly weakening
looking for pullback into support area of 81.00 area and bounce back to 81.60 area for a retest of resistance
obv showing positive volume pressure
Short term MA and VWAP working as dynamic resistance and looking for entry down at support
Another 61.8 Fib pullback inside the PRZ$XLU continues to range inside the PRZ of a Daily Bat pattern.
Two successful sells I had on this one..
Will the third one be the one that will lead $XLU to its final destination? 45-46$ is my final target zone for this setup
Tomer, The MarketZone
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Bat pattern completed The Bat pattern I've mentioned in the past for $XLU was completed last week.
As you can see there was minor bearish reaction to my harmonic sell zone.
$XLU is very close to 50$ so we may see it try to touch this psychological level.. that's usually what happens.
The bearish scenario for $XLU requires a stop loss above 50.5$ with nice R/R as I aim for 47$ as my first daily target zone and 45$ as secondary
Tomer, The MarketZone
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Utilities (XLU) are toppish, correction expected.The XLU has recentlly reached it's high of early 2015 near $50 which seems to offer strong resistance. A double top seems to be in process. Elliott waves count of 5 waves is completed, a correction seems to have started towards the $46.70/$45.35 area, The wave III should just have started, a fast drop is expected.
RSI (5) and MACD are showing beairhs divergence and the XLU-0.20% is trading far away from its 200 days SMA (at $44.30).
The bond market is also showing a similar exhaustion pattern.