NEE closes lower for the 4th day in a row


NextEra Energy (NEE) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
NEE breaks below 100-day moving average
NEE closes lower for the 4th day in a row
NEE breaks below previous session low
NEE falls to lowest close since March 13th
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

Moving lower for the 4th day in a row, NEE finished Thursday at 156.42 losing $0.75 (-0.48%). Today's closing price of 156.42 marks the lowest close since March 13th. Closing below Wednesday's low at 156.66, the stock confirms its breakout through the previous session's low having traded $0.63 below it intraday.

Daily chart for NEE
Volatility

Thursday's trading range was $1.79 (1.14%), that's slightly below last trading month's daily average range of $2.17. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being above average.

Support/Resistance

Prices are trading close to a key support level at 155.58.

Trend

While NextEra Energy is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive. The market broke below the 100-day moving average at 156.78 today for the first time since March 6th.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for NextEra Energy
Condition Forecast Direction Win Avg Worst Best Events
4 Consecutive Higher Closes TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

NEE pushes through key resistance level

Aug 14, 2018
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