EXC finds buyers at key support level
Exelon Corp. (EXC) Technical Analysis Report for Sep 14, 2018
EXC ended the week 0.02% higher at 44.08 after losing $0.36 (-0.81%) today. Today's closing price of 44.08 marks the lowest close since September 7th. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.
Friday's trading range was $0.52 (1.17%), that's slightly above last trading month's daily average range of $0.50. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average. Prices continued to consolidate within a tight trading range between 43.84 and 44.46 which it has been in now for the last three days.
After trading as low as 43.84 during the day, Exelon Corp. bounced off the key support level at 43.86. The failure to close below the support could increase that levels importance as support going forward. After having been unable to move lower than 43.86 in the prior session, the market found buyers again around the same price level today at 43.84. After trading as low as 43.84 during the day, the stock found support at the 20-day moving average at 44.07.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 45.05, upside momentum might speed up should the share be able to break out to new highs for the year.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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