Stock Of The Day / 01.10.25 / EIX01.10.2025 / NYSE:EIX
Fundamentals. The second day of active sales amid wildfires in California.
Technical analysis.
Daily chart: Level 64.56 is ahead, which is formed by a trend break in April 2024.
Premarket: Low activity.
Trading session: After an attempt to grow from the opening, the price bounced off the level 70.50 and went below the opening price, where it found support and began to tighten to level 68.00. We are considering a short trade to continue the downward movement. The stop will be too large If we enter aggressively into the breakdown, so we wait for a retest after the breakdown to open a position.
Trading scenario: #breakdown_retest (#tightening_retest) of level 68.00
Entry: 67.55 below the low of the retest.
Stop: 68.03 we hide it behind the level with a small reserve.
Managing the Trade: After a confident downward movement from the moment the position was opened we observe a pullback at 10:45 a.m. occurred in the form of two long candles. At the same time, we pay attention to the fact that the volumes for purchase are rapidly decreasing during the pullback. We watch the reaction to the level 66.50, if the sellers hold it, then we continue to hold the position, otherwise we close part of the position.
Exit: Close part of the position before the daily level of 64.56. Close the remaining part of the position at a price of 64.57 when the structure of the downtrend is broken.
Risk Rewards: 1/6
P.S. In order to understand the idea of the Stock Of The Day analysis, please read the following information .
