EXC closes higher for the 2nd day in a row


Exelon Corporation (EXC) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team

Highlights

EXC closes higher for the 2nd day in a row
EXC pushes through Monday's high

Overview

Moving higher for the 2nd day in a row, EXC ended the month -5.27% lower at 36.29 after gaining $0.30 (0.83%) today, underperforming the S&P 500 (1.54%). Closing above Monday's high at 36.00, the share confirmed its breakout through the prior session high after trading up to $0.56 above it intraday.

Daily Candlestick Chart (EXC as at Jun 30, 2020):

Daily technical analysis candlestick chart for Exelon Corporation (EXC) as at Jun 30, 2020

Tuesday's trading range has been $0.97 (2.72%), that's below the last trading month's daily average range of $1.22. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for EXC.

One bullish candlestick pattern matches today's price action, the White Candle.

Prices are trading close to the key technical support level at 35.87 (S1).

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Further selling might move prices lower should the market test May's close-by low at 34.44.

Among the three market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "2 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for Exelon. Out of 321 times, EXC closed higher 50.47% of the time on the next trading day after the market condition occurred.


Market Conditions for EXC as at Jun 30, 2020

Loading Market Conditions for EXC (Exelon Corporation)...
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