Consolidated Edison Inc. The next big moveLook at point 1 to see how an abc pattern can reveal the beginning of a big move. Now at point 2 we see a higher degree ABC pattern completing, would you want to miss this next big move. Comment what you think below. Don't forget to click the like if you do. Thank you.
E1DI34 trade ideas
BUY $ED - NR Picks Ene 03ES:
La compañía brinda servicios de vapor, gas natural y electricidad a los clientes del sureste de Nueva York, incluida la ciudad de Nueva York, y pequeñas partes de Nueva Jersey. Las dos empresas de servicios públicos generan aproximadamente el 90% de las ganancias.
Consolidaeted Edison al ser una empresa defensiva ha perdido interés de los inversores este año. Al analizar la compañía nos podemos dar cuenta que la pandemia no ha afectado los resultados de la empresa, tampoco ha aumentado su nivel de deuda lo cual la hace precio atractiva.
Fundamentos:
- Growth
- P/B 1.3x VS 1.7x de industria
- 8.8% crecimiento estimado en ganancias netas para los próximos 3 años
- ROE 7.44% VS 9.76% de industria
Técnicos:
- Nivel de precio superior a SMA 250-200-150
- Williams R% en niveles de -10%
- RSI (60) Sobrecompra
- +12% upside promedio durante el mes
Después de una corrección de 16% desde el 16 de noviembre al 22 de diciembre, se puede observar que se detuvo la venta en un soporte clave de 69.4$. A partir de este punto, la acción ha subido 3.4% lo cual ha hecho que el RSI se muestre desfavorable, sin embargo, el respeto por el soporte genera optimismo incluso en niveles actuales.
EN:
The company provides steam, natural gas and electric services to customers in southeast New York, including New York City, and small parts of New Jersey. The two utilities generate approximately 90% of the profits.
Consolidated Edison being a defensive company has lost interest from investors this year. When we look at the company we can see that the pandemic has not affected the company's results, nor has it increased its level of debt which makes it an attractive price.
Basics:
- Growth
- P/B 1.3x VS 1.7x Industry
- 8.8% estimated growth in net earnings for the next 3 years
- ROE 7.44% vs. 9.76% industry
Technicians:
- Price level above SMA 250-200-150
- Williams R% at -10% levels
- RSI (60) Overbuying
- +12% average upside during the month
After a 16% correction from November 16 to December 22, we can see that the sale was stopped in a key support of $69.4. From this point on, the stock has risen 3.4% which has made the RSI look unfavorable, however, the respect for the support generates optimism even at current levels.
Update on EDNice bounce of the bottom in the up-channel for ED. Higher low indicating another bullish move. Bulls have recaptured momentum on the hourly and 2hr but its still too early to confirm bullish divergence on the daily. A cross of the 7SMA and 14SMA would indicate safer entry point. Target at 1 Fib Extension.
$ED Short PositionFor the public record -- I took a short position on $ED yesterday at $94.71
I posted the trade to the Stocks and Indexes forum:
www.tradingview.com
My reasons for shorting are technical, and not sociopolitical, but are too complex to describe on one chart, so I'll not attempt to do so. I will say that technical divergences were apparent to me at the time of the trade, and now, there is confirmation of the channel breakdown as can be seen in the attached image.
My opinions and actions are not recommendations to buy or sell any stock, bond, ETF , commodity, or any other financial instrument.
ED 7 RRR shortReposting this since TV removed this idea earlier for containing links to my telegram group.
Trading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line .
4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line.
This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
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