DUK on another rally in price corridor, bounce off of 200 SMA?
Hello Traders!
Duke Energy Corp has been moving in a price corridor for almost 4 months now. The support at the bottom of the corridor is clear, but the resistance could be either at 91 or it is the 200 SMA. The 200 SMA will definitely be reached, given that the RSI is far away from being overbought, the recent crossing of the MACD over the 9 EMA, and the 50 SMA crossing over the 100 SMA just now. The price crossing over both the 50 and the 100 SMA will most likely give it enough momentum to reach the 91 support/resistance as well.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
Duke Energy Corp has been moving in a price corridor for almost 4 months now. The support at the bottom of the corridor is clear, but the resistance could be either at 91 or it is the 200 SMA. The 200 SMA will definitely be reached, given that the RSI is far away from being overbought, the recent crossing of the MACD over the 9 EMA, and the 50 SMA crossing over the 100 SMA just now. The price crossing over both the 50 and the 100 SMA will most likely give it enough momentum to reach the 91 support/resistance as well.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
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