EXC breaks below previous session low
Exelon Corp. (EXC) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving lower for the 4th day in a row, EXC finished Thursday at 39.35 losing $0.44 (-1.11%). Today's closing price of 39.35 marks the lowest close since April 25th. Closing below Wednesday's low at 39.58, the share confirms its breakout through the previous session's low having traded $0.33 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (EXC as at May 17, 2018):
Thursday's trading range was $0.75 (1.88%), that's above last trading month's daily average range of $0.59. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 39.08. Unable to break through the key technical resistance level at 39.91, the market closed below it after spiking as high as 40.00 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
Although Exelon Corp. is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.